ESMA updates Q&As for prospectus and transparency rules linked to Brexit
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has today issued Questions and Answers (Q&As) concerning the Prospectus Regulation (PR) and the Transparency Directive (TD) in the context of the Brexit transition period. ESMA has also updated prospectus Q&As as part of an ongoing Q&A revision exercise.
The Brexit related Q&As concern the choice of home member state in the PR and TD sphere, and the use of prospectuses approved by the UK once the transition period is concluded. The Q&As published as part of the ongoing revision exercise focus on thresholds in the prospectus area, and on the identification of profit forecasts. ESMA has recently issued a public statement in relation to this revision exercise.
The purpose of the Q&As is to promote common supervisory approaches and practices in the application of the PR and TD.