EU

Proposal for a new EU Prospectus Directive

Lachlan Burn, Linklaters & Alliance, London. Tel: 0207 456 4614. E-mail: lachlan.burn@linklaters.com

At the end of May 2001, the European Commission published a far-reaching proposal for a new Prospectus Directive. This would replace the current regimes for listing of securities on European stock exchanges and for making offers of unlisted securities to the public. The proposal would make significant changes to the way in which the euromarkets operate, many of them adverse.