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What exactly does an approval of a prospectus by the AFM mean?

An approval of a prospectus by the AFM means the positive decision by the AFM at the outcome of the scrutiny for the completeness of the prospectus, including the consistency of the information given and its comprehensibility. In this context ‘completeness’ means that all topics on which information has to be provided, especially pursuant to the applicable Annexes to the Prospectus Regulation, are being addressed in the prospectus. For more information on these Annexes, please see Procedure for requesting approval. An approval of a prospectus by the AFM does not mean that the AFM has verified whether or not the information included in the prospectus is in compliance with other rules and regulations or whether or not the information included in the prospectus is factually correct. An approval of a prospectus by the AFM also does not mean that the AFM has looked into the economic merits (value or soundness) of the securities offered. An approval is not an investment advice.



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