ESMA LIBRARY

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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
27/07/2021 ESMA31-62-1258 Q&As on the Prospectus Regulation Q&A PDF
814.87 KB
20/07/2021 ESMA32-382-1153 Prospectus activity and sanctions report 2020 Report PDF
458.21 KB
15/07/2021 ESMA32-384-5209 ESMA Public Statement SPACs , Statement PDF
151.59 KB
30/09/2020 ESMA31-62-1491 Public statement QA update Prospectus Statement PDF
93.84 KB
24/09/2020 ESMA32-384-4852 Prospectus Activity Report 2019 Report PDF
406.85 KB
15/07/2020 ESMA31-62-1426 ESMA Guidelines on disclosure requirements under the Prospectus Regulation Final Report PDF
1.41 MB
27/02/2020 ESMA/2014/677-REV Information on shareholder cooperation and acting in concert under the Takeover Bids Directive , Statement PDF
368.97 KB

The European Securities and Markets Authority (ESMA) has published an update to its statement on practices governed by the Takeover Bid Directive (TBD), focused on shareholder cooperation issues relating to acting in concert and the appointment of board members. The update concerns a change to the Croatian creep-in threshold and secondary threshold in Appendix B. The statement contains a White List of activities that shareholders can cooperate on without the presumption of acting in concert. It also contains information on how shareholders may cooperate in order to secure board member appointments by setting out factors that national authorities may take into account when considering whether shareholders are acting in concert.The statement is in response to a request by the European Commission for clarity on these issues, following its 2012 report on the application of the TBD. It is based on information collected about the TBD’s application and common practices across the European Economic Area (EEA). The statement was prepared by the Takeover Bids Network, a permanent working group, under ESMA’s auspices, that promotes the exchange of information on practices and application of the TBD across EEA.

31/10/2019 ESMA31-62-1360 EEA prospectus activity in 2018 Report PDF
394.26 KB
11/04/2019 ESMA31-62-780 Q&A on Prospectus Related Topics , , , , , , Q&A PDF
957.9 KB
29/03/2019 ESMA31-62-1207 Final Report on technical advice under prospectus exemption Final Report PDF
862.94 KB
29/03/2019 ESMA31-62-1217 Final Report on ESMA Guidelines on Risk Factors under the Prospectus Regulation Final Report PDF
415.91 KB
03/04/2018 ESMA31-62-800 Technical advice under the Prospectus Regulation Final Report PDF
4.7 MB
03/07/2017 ESMA31-62-746 EEA prospectus activity in 2016 , Report PDF
475.66 KB
05/04/2017 ESMA31-54-435 Report on shareholder identification and communication systems , Report PDF
1.09 MB
28/07/2016 2016/1170 Report on EEA prospectus activity in 2015 , Report PDF
674.63 KB
30/06/2016 2016/1055 Peer Review Report on Prospectus Approval Process , Final Report PDF
1.23 MB
18/12/2015 2015/1887 Follow-up report on the development of the Best Practice Principles for Providers of Shareholder Voting Research and Analysis , Final Report PDF
645.64 KB
23/07/2015 2015/1136 EEA prospectus activity in 2014 , Final Report PDF
578.07 KB
23/10/2014 2014/1277 ESMA Data on Prospectuses Approved and Passported – January 2014 to June 2014 , Final Report PDF
211.96 KB
The report compiles statistical data regarding the number of prospectuses approved and passported by National Competent Authorities in the period from January 2014 to June 2014 (with a quarterly disclosure).
23/10/2014 2014/1276 ESMA Data on Prospectuses Approved and Passported – January 2013 to December 2013 , Final Report PDF
285.12 KB
The report compiles statistical data regarding the number of prospectuses approved and passported by National Competent Authorities in the period from January 2013 to December 2013 (with a quarterly disclosure).