The Prospectus Directive is implemented in the Dutch Financial Supervision Act. As this Act is not available in English, we refer to the official Dutch version names Wet op het financieel toezicht which can be downloaded via the link below:
- Dutch Financial Supervision Act (July 2012)
The Prospectus Directive (2003/71/EC) was published in the Official Journal of the European Union (L345/64, 31.12.2003) on 31 December 2003, on which date it became effective. The Prospectus Directive was implemented in the national legislation on 1 July 2005. The Prospectus Directive is accompanied by the Commission Regulation (No. 809/2004). The Prospectius Directive sets the overarching content requirements, but the detail is being set within the Commission Regulation. The European Securities and Markets Authority (ESMA) also published an update of series of recommendations on 23 March 2011 (Ref: ESMA/2011/81) regarding the way in which certain topics in the Prospectus Directive and the Commission Regulation should be interpreted and/or explained. In addition ESMA also publishes regularly updated versions of Questions and Answers regarding prospectuses.