CAPITAL MARKETS | CONSOB amends Issuers Regulation

With Resolution No. 23016 dated 20 February 2024, CONSOB adopted several amendments to its Regulation No. 11971/1999 (so-called Issuers Regulation) concerning bond prospectuses. To ensure greater certainty on the timing of the scrutiny process, in line with European best practices, CONSOB shall provide initial informal feedback on the main issues that may arise from an overall review of the draft prospectus within two business days from the submission of the application for approval. The request for additional information will normally be formalised within six business days from the submission (reduced to five business days for offers limited to institutional investors). The use of the English language, already permitted for prospectuses, is now also extended to applications, which may be submitted using standard forms in line with common practice throughout the EU.

Newsletter n. 94 – March 2024