European Commission Publishes Draft Proposal for New Prospectus Regulation

The European Commission recently published its latest draft for a new Prospectus Regulation. It is envisaged that the New Regulation will replace in its entirety the existing Prospectus Directive and parts of the current Prospectus Regulation. The New Regulation makes a valiant effort to move European securities laws forward, particularly for seasoned issuers. However, there are some potentially significant stings in the tail of some of the seemingly positive developments, while some of the developments are likely in themselves to give issuers pause.