The European Securities and Markets Authority (ESMA) has published a consultation paper containing draft guidelines on supplements which introduce new securities to a base prospectus. This is further to the new EU Listing Act...more
Das ursprünglich am 7. Dezember 2022 durch die EU-Kommission vorgelegte Maßnahmenpaket, das unter dem Titel „EU Listing Act“ bekannt ist, wurde nun endlich im November 2024 im Amtsblatt der Europäischen Union veröffentlicht....more
When the Edinburgh Reforms were announced on 9 December 2022, they were billed as an ambitious set of reforms. Two years on, we assess which of the measures have been completed, which remain outstanding, and whether they have...more
On October 8, 2024, the EU Council adopted the Listing Act – a regulation amending the Prospectus Regulation (EU) 2017/1129 – which was first proposed in December 2022 and then subjected to several rounds of negotiations....more
On September 21, 2023, the Canadian Securities Administrators (“CSA”) announced proposed amendments to National Instrument 44-102 Shelf Distributions (“NI 44-102”) relating to well-known seasoned issuers ("WKSIs")as well as...more
Seasoned reporting issuers with equity securities listed on a Canadian stock exchange will have the ability to raise capital (up to the greater of $5 million and 10% of their market capitalization (to a maximum of $10...more
Beginning in 2022, well-known seasoned issuers (WKSIs) will be exempt from certain base shelf prospectus filing requirements, including the requirement to file a preliminary base shelf prospectus, in accordance with...more
This practice note examines some of the issues most commonly raised in Securities and Exchange Commission (SEC) staff comment letters on registration statements filed for initial public offerings. It is intended to guide you,...more
This practice note identifies Brexit-related disclosures that offer detailed discussions of its effects, including how Brexit might impact the company, its employees, management, operations, and prospects. The company name,...more
On March 25, 2021, the Alberta Securities Commission (ASC) proposed two new prospectus exemptions to promote investment opportunities for small businesses in Alberta, and is seeking written submissions with respect to the...more
On 11 March 2020 ESMA has issued a public statement in relation to the impact of COVID-19 outbreak on financial markets in the European Union. As a result, issuers will have to take action in order to cope with the current...more
Hogan Lovells has prepared a roadmap of the key issues to consider when planning your listing in London. ...more
Wall Street’s post-tariff-delay jubilance was short lived, as an inverted bond yield curve reared its ugly head yesterday, sending shares plummeting on a brutal day across all markets....more
Publication du règlement dit « Prospectus » abrogeant la directive Prospectus - Le 30 juin 2017 a été publié au Journal officiel de l’UE le règlement n° 2017/1129 du 14 juin 2017 concernant le prospectus à publier en cas...more
FCA bans firms' use of restrictive contractual clauses for future primary market services - On 27 June 2017, the Financial Conduct Authority (FCA) published its Policy Statement PS17/13 'Investment and corporate banking:...more
The United Kingdom has voted in a referendum by a narrow majority to leave the European Union (“Brexit”). The outcome of the referendum will have far-reaching consequences on financial markets and international capital...more