Author: | Published: 1 Jul 2005

Finnish companies have been using Prospectus Directive-compliant prospectuses for months, but prospectus liability problems still need tackling. By Tarja Wist and Samuel Isaksson

In mid-June 2005, the Finnish parliament approved legislative amendments to implement the Prospectus Directive, just in time for the deadline of July 1 2005. To facilitate transactions during the transitional period, partial implementation took place in March 2005, when it was made possible to draft prospectuses in accordance with the content requirements of the Commission Regulation (809/2004/EC), an option that Finnish issuers have made use of in connection with bond programmes.