Scheda

ESMA has published a package of materials under the Prospectus Regulation to reflect changes introduced by the Listing Act. The measures aim to promote supervisory convergence and contribute to ESMA’s simplification and burden-reduction efforts.

The package includes:

(i) a Consultation Paper on the update of the Guidelines on disclosure requirements. The Consultation Paper (open until 9 November 2026) seeks stakeholder feedback on updates intended to help issuers and their advisers better understand expected disclosure under the revised Prospectus Regulation;

(ii) updated Q&As;

(iii) a Final Report on Guidelines for supplements. The Guidelines (applicable once the translations into all official EU languages become available) establish a common approach for assessing whether a supplement introduces new securities to a base prospectus; and

(iv) a Final Report on RTS on key financial information to be included in prospectus summaries. ESMA has submitted the Final Report to the European Commission for a decision on whether to adopt the RTS updating Commission Delegated Regulation 2019/979