Regulatory Alerts2025-07-15
Final report on the RTS concerning documents incorporated by reference
ESMA has published a final report proposing regulatory technical standards to update the Prospectus Regulation by adding two new categories of documents eligible for incorporation by reference into prospectuses. These additions include documents previously approved or filed under the Prospectus Directive to facilitate fungible non-equity issuances, and optional pre-issuance disclosures for environmentally sustainable or sustainability-linked bonds. The measure aims to reduce administrative burdens and duplication for issuers while maintaining investor protection, with the standards submitted to the European Commission for adoption.
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