ESMA revised its framework for the assessment of third country prospectuses under Article 20 of the Prospectus Directive in 2013. The new assessment of the Israeli laws and regulations on prospectuses is based on the revised framework and replaces the previous ESMA statement setting out its view on prospectuses drawn up according to Israeli laws and regulations.  While there were only some minor changes to the original statement, the new opinion also includes annexes dealing with requirements for SME share prospectuses and rights issues.