The European Commission has published final versions of two regulations that amend and correct two Delegated Regulations under the Prospectus Regulation.
The two amending regulations, drafts of which were published in June 2020 (see our June post on them here), are:
- Regulation EU/2020/1273 which amends Regulation EU/2019/980 (Format, content, scrutiny and approval of prospectuses). This Regulation amends, among other things, the requirements for universal registration documents and EU growth prospectuses; and
- Regulation EU/2020/1272 which amends the Prospectus RTS Regulation EU/2019/979 (Key financial information in the summary, publication of prospectuses, advertisements and supplements). The main change is to delete the requirement that issuers of securities which are convertible or exchangeable into third party shares must publish a supplement to their prospectus.
The regulations entered into force on 16 September 2020 but most of the amendments apply retrospectively with effect from 21 July 2019.