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ARTICLE · 09 NOVEMBER 2013

ESMA Questions And Answers On Prospectus: Version 20

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The European Securities and Markets Authority (ESMA) has published version 20 of its ‘Prospectuses Questions and Answers’.

United KingdomFinance and Banking
Harvey Knight
Harvey Knight
Kirsten Lapham
Kirsten Lapham
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The European Securities and Markets Authority (ESMA) has published version 20 of its 'Prospectuses Questions and Answers'. The purpose of ESMA's publishing Questions and Answers (Q&A) is to promote common supervisory approaches and practices.

The Q&A document provides responses to questions posed by both the general public and competent authorities in relation to the practical application of the Prospectus Directive. The updated version includes three new questions and answers, addressing the following areas:

  • Statement of auditors' agreement where a prospectus includes a profit estimate (question 88). ESMA considers that this statement (required under paragraph (b) of item 13.2 of Annex I of the Prospectus Regulation ) that the auditors agree the financial information is substantially consistent with the final figures to be published in the next annual audited financial statements may be made by the auditors, issuer, offeror or person seeking admission to

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