Amendments to the Issuers' Regulations regarding the Prospectus and launch of a new Consultation with the Market on further proposed amendments (23 December 2021) - CONSOB AND ITS ACTIVITIES
Consob, with Resolution no. 22144 of 22 December 2021, as a result of the Consultation with the Market launched on 8 October 2021, approved a series of regulatory changes (see the Explanatory Report) aimed at aligning the regulatory provisions with the changes made to the Consolidated Law on Finance (Legislative Decree 24 February 1998, no. 58) by the Legislative Decree 2 February 2021, no. 17, implementing the Prospectus Regulation into national law.
The changes concern the advertising activity relating to offers carried out in the national territory pursuant to the new article 101, paragraph 1, of Legislative Decree no. 58/1998, as amended by the aforementioned legislative decree no. 17/2021 and the timing of the publication of the exemption documents pursuant to the regulations introduced by Regulation (EU) 2019/2115, on the promotion and use of growth markets for SMEs (which amended the Prospectus Regulation), as well as by Delegated Regulation (EU) 2021/528 (published in March 2021).
Simultaneously with the issuance of the aforementioned regulatory changes, a New Consultation with the Market was launched on some proposed amendments to the Issuers' Regulation, aimed at: a) align the terms of approval of the prospectus with European legislation; b) enhance prefiling; c) authorize the drafting of the information prospectus in English for offers promoted in Italy as a member state of origin, providing that the summary must in any case be translated into Italian.
The New Consultation will end on February 6, 2022.
All documents are available only in Italian language.
