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.
within Consumer Protection, Insolvency/Bankruptcy/Re-Structuring and Insurance topic(s)
On 6 April 2016, ESMA published version 24 of its Q&A on
prospectuses. This version includes one new question around whether
a prospectus can include an additional column to reflect recent or
future material changes to the capitalisation and indebtedness
statements required pursuant to Item 3.2 of Annex III (Minimum
disclosure requirements for the share securities note) of the
Prospectus Regulation. ESMA considers that it will depend on
whether or not the change has triggered the requirement to disclose
pro forma financial information, whether it is a recent complex
change, whether it is a recent straightforward change and, in the
case of a future change, whether it is certain or not.
Version 24 of ESMA's Q&A on prospectuses can be accessed
here:
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
