The European Union's Prospectus Directive rules are now officially in force. The rules, which are meant to create a single pan-European market for financial products, became mandatory as of July 1. For issuers of derivatives-based structured products, the directive is a big deal. Its main role is to standardise the information issuers have to disclose to investors through the prospectus, but the rules also introduce a new 'single passport' rule for issuing securities.
This provision allows s