ARTICLE
22 January 2020

New Prospectus Regulation: ESMA Final Report On Draft Amendments To Prospectus Regulation RTSs

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A&O Shearman

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A&O Shearman was formed in 2024 via the merger of two historic firms, Allen & Overy and Shearman & Sterling. With nearly 4,000 lawyers globally, we are equally fluent in English law, U.S. law and the laws of the world’s most dynamic markets. This combination creates a new kind of law firm, one built to achieve unparalleled outcomes for our clients on their most complex, multijurisdictional matters – everywhere in the world. A firm that advises at the forefront of the forces changing the current of global business and that is unrivalled in its global strength. Our clients benefit from the collective experience of teams who work with many of the world’s most influential companies and institutions, and have a history of precedent-setting innovations. Together our lawyers advise more than a third of NYSE-listed businesses, a fifth of the NASDAQ and a notable proportion of the London Stock Exchange, the Euronext, Euronext Paris and the Tokyo and Hong Kong Stock Exchanges.
On 4 December 2019, ESMA published its final report on the draft Regulatory Technical Standards (RTS) amending delegated Regulation EU 2019/979.
European Union Corporate/Commercial Law

On 4 December 2019, ESMA published its final report on the draft Regulatory Technical Standards (RTS) amending delegated Regulation EU 2019/979. The report contains RTS under the new PR. Minor errors were amended in the draft RTS, such as forgoing the requirement on issuers of securities convertible or exchangeable into third party shares to publish a supplement to their prospectus. The intention of Regulation EU 2019/979 was not to increase legal requirements for issuers by requiring the publishing of supplements. The final draft RTS also amend certain clerical and typographical errors.

View ESMA's final report on the draft RTS here.

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