Title

The New EU Prospectus Regulation and ESMA Draft Technical Advice: Impact on Capital Markets Transactions
Client Memorandum

Created date

7/21/2017

Following the publication of the EU Prospectus Regulation in the Official Journal of the European Union on June 14, 2017, ESMA has now published draft technical advice on prospectus disclosure requirements, the format of EU Growth Prospectuses, and the scrutiny and approval of prospectuses.

The stated aims for the new EU Prospectus Regulation are to make it easier and more cost-effective for companies, especially smaller companies, to access the capital markets, and also to improve the accessibility of prospectuses for investors. This memorandum provides an overview of the key aspects of the new regime and considers whether it will achieve these goals.