ESMA_QA_912
12/07/2019
Subject Matter
Scope of the wording ‘any bankruptcies, receiverships or liquidations’ used in Annex 1, item 12.1 and Annex 3, item 8.1
Original question
Third paragraph under (c) of item 12.1 (and item 8.1) requires that the prospectus includes:
“details of any bankruptcies, receiverships, liquidations or companies put into administration in respect of those persons described in points (a) and (d) of the first subparagraph who acted in one or more of those capacities for at least the previous five years;”
Is the required disclosure limited to declared bankruptcies, receiverships or liquidations?
“details of any bankruptcies, receiverships, liquidations or companies put into administration in respect of those persons described in points (a) and (d) of the first subparagraph who acted in one or more of those capacities for at least the previous five years;”
Is the required disclosure limited to declared bankruptcies, receiverships or liquidations?
ESMA Answer
12-07-2019
Original language
[ESMA31-62-1258 Prospectuses Q&A nr 14.4]
ESMA considers that the scope of the required disclosure is not restricted to declared bankruptcies, receiverships or liquidations but that also information on bankruptcies, receiverships, liquidations or administration that are pending, or are in progress, should be provided.
Status: Answer Published
Additional Information
Level 1 Regulation
Prospectus Regulation 2017/1129
Topic
Public offer