What is the scope of the RTS 27 reporting requirements for market makers and other liquidity providers?

Article 42 of MiFID II allows third-country firms to market products and services directly (without the need of a branch) to retail clients and professional clients within the meaning of Section II of Annex II of MiFID II if this is done at the client´s own exclusive initiative (reverse solicitation exemption), specifying that in such a case the firm in question may also offer the client products and services from the same category. Does this mean that a firm that, within the context of a one-off service to the client, has sold, or has had the opportunity to sell, a product or service under this rule may in the future again offer products or services from the same category (i.e. outside the context of the request of the client)?

To what extent does the ESMA update of the CESR Recommendations apply to prospectuses drawn up in accordance with the Prospectus Regulation? (Updated 09/09/2026)

How should the information in a registration document be updated before it is a constituent part of a prospectus? (Deleted 09/09/2026)

How should information in a registration document or a universal registration document be updated after it is a constituent part of a prospectus? (Updated 09/09/2026)