ESMA has produced a Report and comparative table of the liability regimes applied by the different EEA States in relation to the Prospectus Directive. The information included in the report includes civil, administrative and government liability and sanctions in each Member State for infringement of national laws and rules implementing the Prospectus Directive and Commission Regulation 809/2004. Liability for prospectuses is not harmonised at EEA level.

The report is divided into five sections; an introduction setting out the relevant EU legislative framework; a summary of the main characteristics of the national regimes in the areas of civil, criminal, administrative and government liability; a general conclusion; a table which compares the different national regimes (Annex II) and a description of each national regime in the form of a questionnaire completed by the relevant competent authority (in the case of Ireland the competent authority is the Central Bank of Ireland)(Annex III).