Time running out to comply with the Prospectus Directive

Time is running out to comply with the EC's Prospectus Directive

Structured product issuers may not be able to rewrite product documentation in time to meet the European Commission's (EC) amended Prospectus Directive, despite a grandfathering provision that gives firms until July 2013 to comply, according to lawyers.

If the prospectuses are not rewritten, issuers will not be able to continue marketing new versions of existing products. Prospectuses for existing issues that have not been rewritten will risk flouting the new regulations.

"Even the companies

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