ESMA_QA_988

Status: ✅ Answer Published

Link to ESMA Q&A tool: https://www.esma.europa.eu/publications-data/questions-answers/988

---

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: Home Member State - Nearly equivalence of Euro 1,000 (Article 2(m)(ii) of the Prospectus Regulation)

---

Question

Submission Date: 12 July 2019

When determining the home Competent Authority, the figure of EUR 1,000 is a key element. ESMA discussed how the second sentence of Article 2(m)(ii) of the Prospectus Regulation, in particular the part which states “nearly equivalent to EUR 1,000”, is applied in practice to cases where the securities are denominated in a currency other than euro?

---

ESMA Answer

Answer Date: 12-07-2019

[ESMA31-62-1258 Prospectuses Q&A 6.1] The decision regarding which Competent Authority should approve the prospectus on the basis of the denomination of the non-equity securities according to Article 2(m)(ii) of the Prospectus Regulation should be made at the time of the submission of the draft prospectus. At that time, “nearly equivalent” doesn’t mean exactly EUR 1,000.

---

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