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Progress toward a single prospectus in Europe

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17 Nov 2002

The Council of Finance Ministers from the 15 European member states has approved a Directive that would create a single prospectus to be used throughout Europe.

At its 5 November 2002 meeting, the EU's Council of Ministers agreed on an amended proposal for a Directive on prospectuses.

"This proposal would make it easier and cheaper for companies to raise capital throughout the EU, while reinforcing protection for investors by guaranteeing that all prospectuses, wherever in the EU they are issued, provide them with the clear and comprehensive information they need to make investment decisions."

The Directive would introduce a new 'single passport for issuers'. This means that once approved by the authority in one Member State, a prospectus would then have to be accepted everywhere else in the EU. To ensure investor protection, that approval would only be granted if prospectuses meet common EU standards for what information must be disclosed and how. Click for News Release (PDF 26k).


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