The European Securities and Markets Authority has published a consultation paper seeking input on draft guidelines covering supplements that add new types of securities to a base prospectus. The proposed guidelines aim to harmonise national competent authorities’ supervision of so-called product supplements, where supervisory approaches have diverged in the past. Stakeholders can submit feedback by 19 May 2025. ESMA expects to publish a final report and the guidelines in Q4 2025, with the goal of providing greater certainty for market participants submitting security-related prospectus supplements across the EU.
European Securities and Markets Authority 2025-02-18
European Securities and Markets Authority launches consultation on guidelines for prospectus supplements introducing new types of securities
The European Securities and Markets Authority (ESMA) has released a consultation paper on draft guidelines for supplements adding new securities types to a base prospectus. The guidelines aim to harmonize national authorities' supervision of product supplements, addressing past divergences. ESMA plans to finalize the guidelines by Q4 2025 to enhance certainty for market participants across the EU.