ESMA to review and approve prospectuses? Omnibus 3 – proposals for change

On 20 September the EU Commission published a package of legislative proposals amending a number of existing EU regulations (“Omnibus 3”).

Omnibus 3 proposes to give ESMA greater and direct supervisory powers, including direct scrutiny and approval of certain types of prospectuses.

here for our memo which discusses the proposed amendments to the Prospectus Regulation and how it may impact certain issuers of debt securities.