# EU prospectus lawgiving

- Canonical URL: https://www.gerhardmerk.de/eu-prospectus-lawgiving
- Post ID: 593232
- Modified: 2023-07-25T21:01:00+00:00
- Language: en

## Definition

Directive that came into force in December 2003 with the aim of allowing securities to be offered to the public throughout the EU or to apply for admission to trading on a stock exchange if the competent authority in the country of origin has approved the prospectus. The Directive had to be transposed into national law by July 1, 2005; however, this was not done on time in all EU member states, but it was done in Germany. - On March 1, 2007, a regulation of the European Commission came into force that deals with the special requirements for prospectus disclosures for issuers with a complex financial history. A complex financial history is attributed to an issuer whose operational business is not clearly and comprehensively reflected in its own documents presented to the public. As a result, the investor is not in a position to form a picture of the issuer's earnings and financial position. - See private placement, prospectus review, exchange offer, distribution, public, Securities Sales Prospectus Act. - See BaFin Annual Report 2003, p. 46; BaFin Annual Report 2005, p. 138 (Prospectus Directive Implementation Act of June 22, 2005, at a glance); BaFin Annual Report 2006, p. 33 f. (complex financial history); BaFin Annual Report 2007, p. 49 f. (CESR efforts on prospectus law issues); BaFin Annual Report 2008, p. 48 (list of common positions on a uniform prospectus law by CESR; possible revision of the Prospectus Directive), BaFin Annual Report 2009, p. 62 (amendment of the EU Prospectus Directive), BaFin Annual Report 2010, p. 69 (new Prospectus Directive published), BaFin Annual Report 2011, p. 92 (revision of the Prospectus Regulation), BaFin Annual Report 2012, p. 121 f. (implementation of the amended Prospectus Directive), and the respective BaFin Annual Report. Attention: The financial encyclopedia is protected by copyright and may only be used for private purposes without express consent! University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec. Professor Dr. Eckehard Krah, Dipl.rer.pol. E-mail address: info@ekrah.com https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk https://www.jung-stilling-gesellschaft.de/merk/ https://www.gerhardmerk.de/

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