Publication of the new prospectus regulation

Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market, and repealing Directive 2003/71/EC was published in the Official Journal of the European Union on 30 June 2017.

The regulation enters into force on the 20th day following its publication in the Official Journal of the European Union. It will apply as from 21 July 2019, with the exception of certain provisions relating to the obligation to publish a prospectus, as set forth in Article 49 of said regulation, which will apply as from 20 July 2017 and 21 July 2018, respectively.

This regulation is binding in its entirety and directly applicable in all Member States. It is available on the CSSF website.

In this respect, the European Securities and Markets Authority (ESMA) published three consultation papers relating to the draft technical advice requested by the European Commission on the format and content of a prospectus, on the EU growth prospectus and on scrutiny and approval criteria of a prospectus. The documents concerned are available on the CSSF website. Draft technical advice may be transmitted directly to ESMA until 28 September 2017.

Any questions in relation to the application of this regulation can be addressed by email to prospectus.help@cssf.lu.