Banks fear Prospectus Directive amendments

Author: | Published: 1 Nov 2009
The Commission thinks these amendments strike a better balance for investors

Proposed amendments to the EU Prospectus Directive are making bankers’ counsel very nervous, particularly changes to the rules on the prospectus summary that could make issuers, banks and even the competent authorities liable for investor decisions.

In-house counsel that attended the International Capital Market Association (ICMA) meeting in Frankfurt this week told IFLR that discussions about the amendments dominated the...