Prospectus Directive

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Parecer do CESE: Prospectus Directive

Key points:

  • The EESC firmly supports the current proposal. It appreciates the greater legal clarity that the form of a regulation rather than a directive brings.
  • The principle of making the prospectus more reader-friendly and targeted to the specific situation of the issuer has the double advantage of reducing costs and increasing the relevance of the prospectus.
  • The EESC also sees the possibility for all prospectuses in the EU to be accessible in a common user-friendly and accessible database.  
  • Reducing the administrative burden of drawing up prospectus for all issuers, in particular for SMEs, frequent issuers of securities and secondary issuances merits the EESC's support.
  • It is necessary for all the stakeholders to be closely involved in the process of producing the level 2 legislation and an in-depth, qualitative impact assessment to be performed two years after the Regulation enters into application. The EESC is particularly interested in participating actively in these consultations.
  • The EESC urges the Commission to clarify some unclear issues in particular as regards the margin of discretion left to the Member States.

Downloads

The Capital Markets Union Package - European Parliament