FESE Response To ESMA Consultation Paper On Possible Delegated Acts Concerning The Prospectus Directive

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