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ESMA Publishes Final Report on Technical Advice Concerning the Prospectus Regulation

A) BACKGROUND On October 8, 2024, the EU Council adopted the Listing Act – a regulation amending, among other things, the Prospectus Regulation (EU) 2017/1129. Even though the Listing Act went into force on 4 December 2024,...more

ESMA Publishes Final Report on Changes to MAR Inside Information Disclosure Rules

On 7 May 2025, the European Securities and Markets Authority (ESMA) published its Final Report on, among other things, technical advice concerning EU Market Abuse Regulation (MAR) provisions that have been amended pursuant to...more

Convertible Bonds: An Issuer’s Guide (2025)

Introduction - Convertible bonds are, customarily, fixed rate debt instruments issued by a company (the “issuer”), the terms of which allow the holders of the bonds to convert them into ordinary shares (common stock) of...more

ECB Fast-Track for Significant Risk Transfer (SRT) Securitisations

Following the start of development work on an accelerated procedure for the regulatory recognition of significant risk transfer ("SRT") securitisations last year, the European Central Bank ("ECB") published guidance addressed...more

ESMA Publishes Consultation Paper on Draft Guidelines on "Product Supplements"

Two of the provisions of the EU Listing Act – a regulation amending, inter alia, the Prospectus Regulation (EU) 2017/1129 – that entered into force on December 4, 2024 were...more

BaFin Provides Guidance on Accelerated Review of Equity Prospectuses

In line with broader efforts to remove procedural deterrents from issuers engaging in securities offerings, for about the past year, the German Federal Financial Supervisory Authority (Bundesanstalt für...more

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