The Commission is consulting on possible changes to the Prospectus Directive. It asks whether changes are needed to:
- the definition of "qualified investor" to permit regulated firms to include professional clients and eligible counterparties within the scope;
- the scope of exempt offers (including removing the current €1,000 denomination and how “retail cascades” work);
- the need for annual disclosure;
- time limits for exercising the right to withdraw; and
- some thresholds the Directive sets.
It asks for comments by 10 March.