CESR examines prospectus directive
The review assesses whether the directive is meeting its chief aims, which are to protect investors, to lower the cost of capital and to aid the development of a single EU-wide securities market.
CESR also examined the effectiveness of the Lamfalussy process, designed to harmonise and quicken the implementation of EU laws, in introducing the prospectus regime.
The review found widespread support for and satisfaction with the regime.
“Market participants consider the Prospectus Directive and
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