Scheda

ESMA has published the final report on the Prospectus Regulation and on civil prospectus liability.

The technical advice on civil prospectus liability presents: (i) feedback received on the CfE  where many stakeholders consider that the current regime is well-balanced and argue that reform is unnecessary at this stage;(ii)ESMA’s ensuing advice; and (iii) an update of the sections of the 2013 Report on prospectus liability related to civil prospectus liability.

The EC must present a report to the European Parliament and to the Council by 31 December 2025. This should analyse the issue of liability for the information given in a prospectus, assessing whether further harmonisation of the prospectus liability in the Union could be warranted