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ARTICLE · 05 JULY 2012

Revised Prospectus Directive Implemented In The Netherlands

De Brauw Blackstone Westbroek
De Brauw Blackstone Westbroek
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De Brauw Blackstone Westbroek

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The revised Prospectus Directive, which came into force on 31 December 2010, was implemented in the Netherlands on 1 July.

NetherlandsCorporate/Commercial Law
Ernest Meyer Swantee
Ernest Meyer Swantee
Daan Van Binsbergen
Daan Van Binsbergen
Esther Bromet
Esther Bromet
Elmer Veenman
Elmer Veenman
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The revised Prospectus Directive, which came into force on 31 December 2010, was implemented in the Netherlands on 1 July. The main changes to the Dutch Financial Markets Supervision Act (FMSA) are:

  • The exemption from the requirement to prepare a prospectus now applies to offers with a minimum denomination of EUR 100,000 per investor or per unit. Previously, the limit was EUR 50,000. The threshold for dispensation under the Transparency Directive has also been raised to EUR 100,000.
  • The requirement to produce a prospectus does not apply if the offer is directed at fewer than 150 persons per member state, none of whom are qualified investors.
  • Clarification that the exception for offers with a total value of less than EUR 100,000 concerns the total value in the EEA.

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