ESMA update on Prospectus Q&A

The European Securities and Markets Authority (ESMA) has updated its Questions and Answers document (Q&A) on prospectus related issues.

The purpose of the Q&A document is to promote common supervisory approaches and practices in the application of the Prospectus Directive and its implementing measures. In this 23rd version of the Q&A, a new question 96 has been added regarding the level of disclosure which should be included in a prospectus related to securities which may be subject to write-down or conversion powers under the Bank Recovery and Resolution Directive (BRRD).

Furthermore, the existing question 26 on calculation of the €5 million threshold in Article 1(2)(h) of the Prospectus Directive has been extended to cover also calculation of the €75 million threshold in Article 1(2)(j).

The updated 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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