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Replacing directive 2003/71/EC, they set out to simplify administrative obligations related to the publication of prospectuses but in a manner that still ensures that investors are well informed.
"This regulation is another element contributing to the improvement of the business environment, so important for realising a capital markets union in Europe", said Edward Scicluna, minister for finance of Malta, which currently holds the Council presidency. "It will help enable a strengthened role for market-based finance, alongside bank finance, in the funding of European companies."
The regulation was adopted at a meeting of the General Affairs Council, without discussion.
The European Parliament approved the text on 5 April 2017, following an agreement between Council and Parliament representatives on 7 December 2016.
Most provisions will apply 24 months after entry into force.