ESMA_QA_2257
21/08/2024
Subject Matter
Future incorporation by reference of financial information, which will be permitted once Article 19 PR is amended by the Listing Act
    How should issuers comply with the requirement to include a hyperlink to new annual or interim financial information that will be incorporated by reference if such information is not yet available at the time of approval of the base prospectus?
    ESMA Answer
    06-06-2025

      Answer provided by the European Commission in accordance with Article 16b(5) of the ESMA Regulation

      Where applicable, the base prospectus shall contain, in the relevant section, a hyperlink to where the new annual or interim financial information will be published.

      Disclaimer:

      The answers clarify provisions already contained in the applicable legislation. They do not extend in any way the rights and obligations deriving from such legislation nor do they introduce any additional requirements for the concerned operators and competent authorities. The answers are merely intended to assist natural or legal persons, including competent authorities and Union institutions and bodies in clarifying the application or implementation of the relevant legal provisions. Only the Court of Justice of the European Union is competent to authoritatively interpret Union law. The views expressed in the internal Commission Decision cannot prejudge the position that the European Commission might take before the Union and national courts.

      Status: Answer Published

      Additional Information

      Level 1 Regulation
      Prospectus Regulation 2017/1129
      Topic
      Public offer