FESE fully agrees with European supervisors that there is an adequate level of flexibility in the current Prospectus regime. We feel strongly that the current distinction between a Regulated Market and an MTF should be retained. This requires the continued application of the principle that admission to trading on a MTF, as opposed to admission to trading on a RM or a public offer, does not trigger the obligation to publish a prospectus. Furthermore, FESE does not support the proposal of what is called a «proportionate» regime for SMEs. FESE Response to ESMA_201073EU.pdf
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FESE Response To ESMA Consultation Paper On Possible Delegated Acts Concerning The Prospectus Directive
Date 19/08/2011