ESMA_QA_912

Status: ✅ Answer Published

Link to ESMA Q&A tool: https://www.esma.europa.eu/publications-data/questions-answers/912

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Regulatory Context

Regulation : PROSPECTUS

Level 1 Regulation: Prospectus Regulation 2017/1129

Level 2 Regulation: No information available

Level 3 Regulation: No information available

Topic: Public offer

Subject Matter: Scope of the wording ‘any bankruptcies, receiverships or liquidations’ used in Annex 1, item 12.1 and Annex 3, item 8.1

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Question

Submission Date: 12 July 2019

Third paragraph under (c) of item 12.1 (and item 8.1) requires that the prospectus includes:

“details of any bankruptcies, receiverships, liquidations or companies put into administration in respect of those persons described in points (a) and (d) of the first subparagraph who acted in one or more of those capacities for at least the previous five years;”

Is the required disclosure limited to declared bankruptcies, receiverships or liquidations?

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ESMA Answer

Answer Date: 12-07-2019

[ESMA31-62-1258 Prospectuses Q&A nr 14.4] ESMA considers that the scope of the required disclosure is not restricted to declared bankruptcies, receiverships or liquidations but that also information on bankruptcies, receiverships, liquidations or administration that are pending, or are in progress, should be provided.

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This document was automatically extracted from the ESMA EMIR Q&A database.