ESMA clarifies Advertisement and Alternative Performance Measures under Prospectus Directive

The European Securities and Markets Authority (ESMA) has updated its Questions and Answers document (Q&A) on prospectus related issues. The Q&A includes two new questions and answers on advertisements and Alternative Performance Measures.

The first new question on advertisements addresses how the requirement to disseminate an amended advertisement at a minimum through the same means as the original advertisement should be applied when the advertisement in question is a roadshow.

The second question deals with the inclusion of Alternative Performance Measures (APMs) in information disclosed about the offer to the public or the admission to trading on a regulated market.

The ESMA statement and the Q&A can be found here.

Lavanya Rathnam

Lavanya Rathnam is an experienced technology, finance, and compliance writer. She combines her keen understanding of regulatory frameworks and industry best practices with exemplary writing skills to communicate complex concepts of Governance, Risk, and Compliance (GRC) in clear and accessible language. Lavanya specializes in creating informative and engaging content that educates and empowers readers to make informed decisions. She also works with different companies in the Web 3.0, blockchain, fintech, and EV industries to assess their products’ compliance with evolving regulations and standards.

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