Friday, December 31, 2010

Transparency Directive Changes on 31 December 2010

This Post sets out a simple list of changes made on 31 December 2010 to the Transparency Directive (Directive 2004/109/EC of the European Parliament and of the Council of 15 December 2004 on the harmonisation of transparency requirements in relation to information about issuers whose securities are admitted to trading on a regulated market and amending Directive 2001/34/EC) by Directive 2010/73/EU of the European Parliament and of the Council of 24 November 2010 ("the 2010 Directive"):


Transparency Directive Article 2 has been amended by Article 2(1) of the 2010 Directive.

Transparency Directive Article 8 has been amended by Article 2(2) of the 2010 Directive.

Transparency Directive Article 18 has been amended by Article 2(3) of the 2010 Directive.

Transparency Directive Article 20 has been amended by Article 2(4) of the 2010 Directive.

Article 3(1) of the 2010 Directive requires Member States to bring into force the laws, regulations and administrative provisions necessary to comply with the Directive by 1 July 2012.

Wishing a Happy and Healthy New Year to one and all.

London: 31/12/2010, 09.10 UK Time

Prospectus Directive Changes on 31 December 2010

This Post sets out a simple list of changes made on 31 December 2010 to the Prospectus Directive (Directive 2003/71/EC of the European Parliament and of the Council of 4 November 2003 on the prospectus to be published when securities are offered to the public or admitted to trading and amending Directive 2001/34/EC) by Directive 2010/73/EU of the European Parliament and of the Council of 24 November 2010 ("the 2010 Directive"):


Prospectus Directive Article 1 has been amended by Article 1(1) of the 2010 Directive.

Prospectus Directive Article 2 has been amended by Article 1(2) of the 2010 Directive.

Prospectus Directive Article 3 has been amended by Article 1(3) of the 2010 Directive.

Prospectus Directive Article 4 has been amended by Article 1(4) of the 2010 Directive.

Prospectus Directive Article 5 has been amended by Article 1(5) of the 2010 Directive.

Prospectus Directive Article 6 has been amended by Article 1(6) of the 2010 Directive.

Prospectus Directive Article 7 has been amended by Article 1(7) of the 2010 Directive.

Prospectus Directive Article 8 has been amended by Article 1(8) of the 2010 Directive.


Prospectus Directive Article 9 has been amended by Article 1(9) of the 2010 Directive.

Prospectus Directive Article 10 has been deleted by Article 1(10) of the 2010 Directive.

Prospectus Directive Article 11 has been amended by Article 1(11) of the 2010 Directive.

Prospectus Directive Article 12 has been amended by Article 1(12) of the 2010 Directive.

Prospectus Directive Article 13 has been amended by Article 1(13) of the 2010 Directive.

Prospectus Directive Article 14 has been amended by Article 1(14) of the 2010 Directive. 


Prospectus Directive Article 15 has been amended by Article 1(15) of the 2010 Directive.

Prospectus Directive Article 16 has been amended by Article 1(16) of the 2010 Directive.

Prospectus Directive Article 18 has been amended by Article 1(17) of the 2010 Directive.

Prospectus Directive Article 19 has been amended by Article 1(18) of the 2010 Directive. 


Prospectus Directive Article 20 has been amended by Article 1(19) of the 2010 Directive.

Prospectus Directive Article 21 has been amended by Article 1(20) of the 2010 Directive. 


Prospectus Directive Article 24a has been added by Article 1(21) of the 2010 Directive. 

Prospectus Directive Article 24b has been added by Article 1(21) of the 2010 Directive.

Prospectus Directive Article 24c has been added by Article 1(21) of the 2010 Directive. 


Article 3(1) of the 2010 Directive requires Member States to bring into force the laws, regulations and administrative provisions necessary to comply with the Directive by 1 July 2012.

Wishing a Happy and Healthy New Year to one and all.

London: 31/12/2010, 09.05 UK Time

Amendments to the Prospectus Directive and Transparency Directive now in force

Today (31 December 2010) sees the coming into force of important amendments to the Prospectus Directive and Transparency Directive.

Directive 2010/73/EU of the European Parliament and of the Council of 24 November 2010 was published in the Official Journal of the European Union on 11 December 2010, and, under Article 5, it has entered into force on the 20th day following its publication in the OJ.

The full title of this Directive is "Directive 2010/73/EU of the European Parliament and of the Council of 24 November 2010 amending Directives 2003/71/EC on the prospectus to be published when securities are offered to the public or admitted to trading and 2004/109/EC on the harmonisation of transparency requirements in relation to information about issuers whose securities are admitted to trading on a regulated market Text with EEA relevance."

London: 31/12/2010, 09.00 UK Time