The regulation, which replaces Directive 2003/71/EC of the European Parliament and of the Council, the so-called 'prospectus directive', will become applicable on a rolling basis as set out in the regulation itself, and will be binding in its entirety without the need of the Maltese Parliament's intervention.

The European Commission hailed the implementation of the regulation as an essential step towards the completion of its initiative to establish a Capital Markets Union in the EU. The overarching goal of the regulat