Regulatory Alerts2021-05-31
Regulations on Requirements for Prospectus and Information Memorandum
The State Committee for Securities of Azerbaijan issued Resolution No. 05 to establish mandatory disclosure standards for prospectuses and information memorandums used in public securities offerings on regulated markets. The regulations require detailed issuer disclosures, audited financial data spanning three years, risk assessments, and clear offering terms, while permitting abbreviated information memorandums for smaller issues or institutional placements. Issuers must publish base prospectuses alongside final terms, maintain continuous disclosure of legal and financial documents throughout the validity period, and verify expert statements to ensure accurate investor protection.
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