Regulatory Alerts2019-10-01
Added · Updated
Guidelines on risk factors under the Prospectus Regulation
Competent authorities must ensure that risk factors in prospectuses are specific, material, and corroborated, challenging disclosures that are generic, serve as disclaimers, or lack clear impact descriptions. Authorities should require amendments to remove excessive mitigating language and ensure risk factors are presented in no more than ten categories for standard single-issuer prospectuses, ordered by materiality. These guidelines apply from 04/12/2019, requiring competent authorities to notify ESMA of their compliance status within two months of publication.
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