The European Securities and Markets Authority (ESMA) has published the final Guidelines on disclosure requirements under the Prospectus Regulation (ESMA31-62-1426). The Guidelines are intended help market participants comply with the disclosure requirements under the Prospectus Regulation regarding the format and content of prospectuses.
The Guidelines, which replace the ESMA Update to the CESR recommendations under the Prospectus Directive, were consulted on last year (see our corporate update 2019/15) and will come into force two months after publication on ESMA’s website in all official EU languages.
The Guidelines cover a variety of topics, including presentation of financial information such as pro forma information, working capital statements and profit forecasts.
Mike Flockhart
Managing Partner, Corporate, UK and EMEA, London
Antonia Kirkby
Knowledge Counsel, London
Greg Mulley
Partner, London
Key contacts
Mike Flockhart
Managing Partner, Corporate, UK and EMEA, London
Antonia Kirkby
Knowledge Counsel, London
Greg Mulley
Partner, London
Disclaimer
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