On 12 March 2014, the European Parliament published the provisional edition of a legislative resolution passed on 11 March 2014 to adopt, with amendments, the Commission's proposed Omnibus II Directive, which amends the Prospectus Directive and the Solvency II Directive in respect of the powers of the European supervisory authorities. The adopted text will now have to be approved by the Council.
The European Parliament altered the Commission's proposed amendment to Article 5(4) of the Prospectus Directive so that the competent authority of the relevant home Member State is now required to communicate the final terms of any offer that are not included in the base prospectus or supplement to the competent authority of the host Member State and ESMA (instead of the communication being made by the issuer, offeror or person asking for admission to trading on a regulated market).
The European Parliament has also amended the deadline for ESMA's submission to the Commission of draft RTS under the Prospectus Directive to 1 July 2015.
The adopted text is available at: http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+TA+20140311+SIT-02+DOC+WORD+V0//EN&language=EN
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