Go to content

Rules for advertisements of approved prospectuses

Research indicates that advertisements play an important role in investment decisions. Advertisements that are published in relation to offers or listings of securities for which an approved prospectus has been published must comply with certain rules. For example, the information in an advertisement shall not be inaccurate or misleading and shall be consistent with the information contained in the prospectus. Prior to publication we review these advertisements (as explained in more detail below). In this manner, we ensure that investors are properly informed. If necessary, may take enforcement action if (after publication) it turns out that advertisements did not comply.

Requirements of the Prospectus Regulation

As of 21 July 2019, all advertisements relating to a prospectus must meet the requirements of the Prospectus Regulation (EU) 2017/1129. These regulatory requirements also apply if the advertisement relates to a prospectus that is published under the (old) Prospectus Directive 2003/71/EC. Further information is provided by ESMA in their Q&As on the Prospectus Regulation.