While many will still recall the pain of “PD2” implementation in 2012, the European Union (EU) has announced a new Prospectus Regulation that will repeal and replace the existing Directive, becoming fully effective in 2019. Despite taking the form of a Regulation rather than a Directive, this new Regulation is commonly being referred to as “PD3.”
The provisional text, already approved by the European Parliament and adopted by the Council, is expected to be published in the Official Journal in the coming weeks. With a consultation paper on the new Regulation also imminent, the industry has an awful lot to mull over.
Sarah Natt from Delta Capita discusses what the PD3 changes mean, and why there has never been a more pressing time to act in the Consultation process.
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