Prospectus Rules updated for regulation on retail cascades, information on underlying indexes, and profit forecasts and estimates

Prospectus Rules updated for regulation on retail cascades, information on underlying indexes, and profit forecasts and estimates

 On 28 September 2012, the Financial Services Authority (FSA) made amendments to the Prospectus Rules (PR) to reflect Commission Delegated Regulation (EU) No 862/2012 of 4 June 2012 amending Regulation (EC) No 809/2004 as regards information on the consent to use of the prospectus, information on underlying indexes and the requirement for a report prepared by independent accountants or auditors (Regulation 862/2012).

Regulation 862/2012 came into force on 22 September 2012 and made certain amendments to the Prospectus Regulation. The FSA has simply updated those parts of the PR that reproduce the Prospectus Regulation, to mirror the amendments made by Regulation 862/2012. These include:

  • The introduction of a new Article 20a (reproduced in PR 2.3.1) and Annex XXX (reproduced in PR Appendix 3), which relate to the consent to use a prospectus in a retail cascade, and the disclosure requirements relating to such consent.
  • Amendments to the Annexes to the Prospectus Regulation (reproduced in PR Appendix 3), which relate to proprietary indexes composed by the issuer, and the requirement for an auditor's report accompanying profit forecasts or estimates.

Source: Prospectus Regulation (Amendment No 2) Instrument 2012 (FSA 2012/57) and FSA Handbook Notice 123.


Related Articles



Share this page:

  • Facebook Logo
  • Twitter Logo
  • Google Plus Logo
  • LinkedIn Logo