Capital Markets Comparative Guide – Section One: Legal And Regulatory Framework

1.1 Which laws and regulations govern the capital markets in your jurisdiction?

The main capital markets legislation applicable to issuers whose shares are listed and admitted to trading on a regulated market within the meaning of Article 1(31) of the law of 30 May 2018 on markets in financial instruments, as amended ('MiFID II Law') is:

• the law of 24 May 2011 relating to the exercise of certain shareholder rights in general meetings of listed companies, as amended;
• the law of 11 January 2008 on transparency requirements for issuers, as amended ('Transparency Law') implementing the EU Transparency Directive (2004/109/EC);
• the EU Prospectus Regulation (2003/71/EC) and the law of 16 July 2019 on prospectuses for securities, as amended ('Prospectus Law');