Regulatory Alerts1997-11-30
Instruction COSOB No. 97-03 of November 30, 1997, Implementing Regulation COSOB No. 96-02 on Information to be Published by Companies and Organizations Making a Public Offering
The Commission des Opérations sur les Biens (COSOB) issued Instruction 97-03 to implement Regulation 96-02, mandating that companies and public institutions obtain prior visa approval for their information notices and prospectuses before making a public offering. The instruction establishes strict procedural requirements, including submission timelines, fee payments, and the legal liability of signatories for the accuracy and completeness of the disclosed information. It further details the specific content and formatting standards for information notices and prospectuses, covering operational, issuer, activity, and financial data to ensure investor protection.
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