Date: 09.02.2017(3) Discontinuation of prospectus-free secondary listings
For secondary listings, issuers from EEA states can make use of the exemption provision under Article (1)(5)(j) of the EU Prospectus Regulation. This provision does not require issuers to have a prospectus in order to obtain a secondary listing of securities already admitted to trading on a regulated market. As a result of Brexit, this alleviation no longer applies to issuers from EEA states seeking a secondary listing in the UK or to issuers from the UK wishing to obtain a secondary listing in the EEA.
ESMA’s Brexit Q&As
The European Securities and Markets Authority (ESMA – https://www.esma.europa.eu/) has published additional information on Brexit in the form of Q&As. This information can be found in the “Questions and Answers on the Prospectus Regulation” (ESMA31-62-1258) under points 16.1 and 16.2.
