As Europe enters the implementation stage of the Financial
Services Action Plan the unintended consequences of regulation
have become a leading concern among issuers, underwriters and
As detailed by Michael Evans in this issue (page 9),
confusion over terms in the Prospectus Directive means that
companies listed on markets such as London's Alternative
Investment Market (Aim) may find themselves subject to a regime
they have tried to avoid.
Meanwhile, the effects of...