CESR issued a third update on frequently asked questions regarding Prospectuses. The consolidated ‘Q and A’ publication should provide market participants with responses in a quick and efficient manner, to ‘everyday’ questions which are commonly posed to the CESR secretariat or CESR Members.
CESR responses do not contain standards, guidelines or recommendations, and therefore no prior consultation process has been followed.
The Commission Services note that only the European Court of Justice can give a legally binding interpretation of provisions of EU legislation. Moreover, the views expressed in the paper do not bind the European Commission as an institution, and the Commission would be entitled to take a position different to that set out in this ‘Q and A’ guide in any future judicial proceedings concerning the relevant provisions.
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