Subject Matter
New exemptions for fungible securities in Prospectus Regulation.
Question
What are the requirements for the statement of continuous compliance with reporting and disclosure obligations under IV. in Annex IX to the Prospectus Regulation? More specifically, (i) is it possible to add any disclaimers to this statement, (ii) when is an issuer considered to have ‘continuous compliance’, (iii) to which time period should the statement pertain (i.e. does the statement need to cover the entire period that the issuer’s securities have been admitted to trading) and (iv) are issuers allowed to use an ‘exempted document’ drawn up using Annex IX if this statement is not ‘clean’?
Level 1 Regulation
Subject Matter
New exemptions for fungible securities in Prospectus Regulation.
Question
Does the exemption in Article 1(5)(ba) PR concern all exchange offers or only exchange offers falling within the scope of the Takeover Directive?
Level 1 Regulation
ESMA_QA_2520
Topic
07/04/2025
Subject Matter
New exemptions for fungible securities in Prospectus Regulation.
Question
When applying the exemptions in Article 1(4)(da) and (db) as well as Article 1(5)(ba), when is an issuer considered to be subject to a restructuring or to insolvency proceedings?
Level 1 Regulation
ESMA_QA_2518
Topic
04/04/2025
Subject Matter
Active Account Requirement
Question
How should the calculation mentioned in the second sentence of Article 7a(4), fifth subparagraph, of EMIR, be done, in order for counterparties to establish whether they can benefit from the derogation regarding the number of trades in each of the most relevant categories to fulfil the representativeness obligation?