Prospectus for the Public Offering of Securities in Europe: European and National Legislation in the Member States of the European Economic Area

The Prospectus Directive of 4 November 2003 sets the rules on the publication of a prospectus in the event that securities are offered to the public or admitted to trading on a stock exchange in the European Union. These rules apply in all thirty member states of the European Economic Area. Since member states decide to a large extent how to implement the Directive in their law, the rules in the different member states will differ substantially. It is therefore important not only to have an...