New Prospectus Regulation
On June 27th 2017 an Early Bird about the new Prospectus Regulation took place at Binder Grösswang.
A comprehensive amendment of the current prospectus regime was adopted recently at the European level: The new EU Prospectus Regulation is expected to be published in the European Official Journal in the second quarter of 2017 and most provisions will enter into force 24 months later.
The new regulation introduces amendments in particular with regard to prospectus exemptions, the summary, risk factors, base prospectuses and the publication of the prospectus. It is expected that especially the amendments regarding the summary (maximum length, defined structure) and the risk factors (elimination of unspecific risk factors, assessment of the materiality of the risk factors) will lead to adjustments in practice. In order to ensure a smooth transition and an optimal preparation of the necessary adjustments, we discussed the necessary amendments in practice and options for the transitional period.
The PRIIPs Regulation is expected to enter into force on January 1st 2018. There are still some uncertainties regarding the application of the regulation in particular about the extent of covered investment products. We will briefly discuss with you the relevant issues in practice.
At the end of the presentation we summarized the experiences after the first year of the application of MAR and give a brief outlook, what to expect from the upcoming months.
You can download the presentation here.
Florian Khol, Partner
Thomas Berghammer, Counsel