ESMA_QA_759
Status: ✅ Answer Published
Link to ESMA Q&A tool: https://www.esma.europa.eu/publications-data/questions-answers/759
Regulatory Context
Regulation : BMR
Level 1 Regulation: Benchmarks Regulation (BMR) - Regulation 2016/1011
Level 2 Regulation: No information available
Level 3 Regulation: No information available
Topic: Benchmarks Regulation
Subject Matter: Update of prospectuses as per Article 29(2) (ESMA70-145-114_Q&A 8.4)
Question
Submission Date: 31 March 2023
Should prospectuses include reference to the register of administrators and benchmarks?
ESMA Answer
Answer Date: 24-05-2018
ESMA considers that prospectuses should include reference to ESMA register of administrators and benchmarks (“the register”) as follows. In relation to prospectuses approved on or after 1 January 2018:
Where the register already includes the relevant administrator by the time a prospectus under Directive 2003/71/EC or Directive 2009/65/EC is published, ESMA considers that such prospectus should include a reference to the fact that the administrator is listed in the register. Where the register does not include the relevant administrator by the time a prospectus is published, ESMA considers that such prospectus should include a statement to that effect. Additionally:
Prospectuses published under Directive 2009/65/EC should be updated at the first occasion once the relevant administrator is included in the register. Prospectuses approved under Directive 2003/71/EC are not required under BMR to be systematically updated by means of a supplement once the relevant administrator is included in the register. This is without prejudice to the obligation under Directive 2003/71/EC of the issuer, offeror or person asking for admission to trading on a regulated market to assess on a case-by-case basis the significance and/or materiality of the specific situation.
In relation to prospectuses approved prior to 1 January 2018:
Prospectuses approved under Directive 2009/65/EC should be updated at the first occasion or at the latest within 12 months after 1 January 2018. If by 1 January 2019 the relevant administrator is not included in the register, ESMA considers that these prospectuses should be updated to include a statement to that effect. Prospectuses approved under Directive 2003/71/EC are not required under BMR to be systematically updated by means of a supplement once the relevant administrator is included in the register. This is without prejudice to the obligation under Directive 2003/71/EC of the issuer, offeror or person asking for admission to trading on a regulated market to assess on a case-by-case basis the significance and/or materiality of the specific situation.
This document was automatically extracted from the ESMA EMIR Q&A database.