On December 8, 2016, the Council of the European Union announced the conclusion of a provisional agreement with representatives of the European Parliament on new rules on prospectuses for the issuing and offering of securities. The draft Prospectus Regulation is part of the EU's Capital Markets Union plan. The proposed Prospectus Regulation will replace the current EU Prospectus Directive, revising the regime for companies to raise money on public markets or by public offer to potential investors. The aim is to simplify the rules and administrative obligations for companies wishing to issue shares or debt on the market and reducing the costs of preparing a prospectus, thus fostering cross-border investments in the single market, while at the same time still enabling investors to make informed investment decisions.
The Council's press release is available at: http://www.consilium.europa.eu/press-releases-pdf/2016/%2012/472%2044651895%20_en.pdf ; a note on the European Commission's proposal for a Prospectus Regulation is available at: http://www.shearman.com/~/media/Files/NewsInsights/Publications/2016/02/Prospectus-Directive-the-Commissionsproposal-for-a-new-Prospectus-Regulation-CM-020416.pdf .
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