Possible discussion points:
On 30 November the European Commission published its proposal for a new prospectus regulation as a key element in its Capital Markets Union initiative. The aim of the new regulation is to lower the cost of raising capital while providing investors the information they need. Does the European Commission proposal succeed in striking this balance?
- Does the European Commission proposal have the potential to create a single market for investments?
- Is there any risk that investor protection will be impaired by the proposed changes to the prospectus regime?
- Is the threshold of €500.000 for when a prospectus is required set at the right level?
- Could giving members states the right to set a higher threshold only for the domestic market discourage companies to raise capital cross-border?
- Is the Commission proposal for a lighter prospectus regime for SMEs the right way to go? Does it still assure that investors get the information they need to make informed investment decisions?
- Is the proposals for simplified regimes for secondary and frequent issues well balanced?
- What role can a single access point for EU prospectuses play in boosting cross-border investments?
Philippe De Backer Member of the European Parliament, Rapporteur on Prospectus Regulation
Tilman Lueder Head of Unit C3 – Securities Markets, DG FISMA, European Commission
Chris Muyldermans Counsel Regulatory Affairs, Corporate Public Affairs, KBC Group NV
Deirdre Somers Chief Executive, ISE – Irish Stock Exchange and President, FESE – Federation of European Securities Exchanges
Michael Collins Deputy Chief Executive & Public Affairs Director, Invest Europe
Moderator: Dr Hilger von Livonius Partner, Banking & Finance, King & Wood Mallesons LLP