INTRODUCTION - The context and status of this ‘Q and A':
EU Legislation:
The Prospectus Directive 2003/71/EC and the Commission's Regulation on Prospectuses (EC 809/20 04) became effective on 1 July 2005. The Prospectus Directive and accompanying Regulation establishes a harmonised format for Prospectus in Europe and allows companies to use this Prospectus to list on all European markets without having to reapply for approval from the local regulator and by doing so, it is intended to help companies avoid the inherent delays and cost that this may involve. As a result of this new legislation, consumers can also be assured of more consistent and standardised information which will enable them to compare more effectively the various securities offers available from a wider number of European companies.
