In February 2009, the Committee of European Securities Regulators (CESR) published the 8th updated version of its Q&A publication "Frequently asked questions regarding Prospectuses: Common positions agreed by CESR members".

The updated publication includes a new Q&A outlining a short-form disclosure regime for share offers to employees where a prospectus is required. The inclusion of this new Q&A follows on from a request from the European Commission that regulators adopt a common 'light-touch' approach to share offers to employees under the Prospectus Directive and Prospectus Regulation.

View the updated Q&A publication (45 page pdf).