Regulatory Alerts2004-01-01
Regulation COSOB No. 04-01 of July 8, 2004, Amending and Complementing Regulation COSOB No. 96-02 on Information Disclosure by Companies Issuing Securities
The Commission d'organisation et de surveillance des opérations de bourse (COSOB) issued Regulation No. 04-01 to amend and supplement Regulation No. 96-02 regarding information disclosure requirements for companies issuing securities. The regulation mandates that information documents be dated and signed by the issuer's legal representative and auditors, and introduces Article 5 bis to allow the use of draft prospectuses for gathering subscription intentions under strict conditions. These conditions require financial intermediaries to maintain a registry of recipients, provide copies upon request, display provisional status warnings, and distribute the final approved notice to all solicited parties.
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