Report from the Commission to the European Parliament and the Council on the exercise of the power to adopt delegated acts conferred on the Commission pursuant to Directive 2003/71/EC of the European Parliament and of the Council of 4 November 2003 on the prospectus to be published when securities are offered to the public or admitted to trading and amending Directive 2001/34/EC

Adopted in November 2003, the Prospectus Directive (PD) lays down common rules governing the prospectus that has to be published for a public offer or admission to trading of transferable securities on an EU regulated market. Following a review process, the PD was amended in November 2010 by Directive 2010/73/EU ("PD II", in application from July 2012). It was last amended by Directive 2014/51/EU (the "Omnibus II" Directive).

The PD II includes, in its Article 4, a review clause requiring the Commission to assess by 1 January 2016 the application of the PD as amended by PD II. This report should be presented to the European Parliament and the Council, and accompanied, where appropriate, by proposals to amend the PD.

• Primary Source

EUR-Lex: COM(2015)149: Follow the progress of this report through the decision-making procedure http://eur-lex.europa.eu/legal-content/EN/HIS/?uri=COM:2015:149:FIN

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