SSMA’s response to ESMA’s Consultation Paper on Draft Guidelines on supplements which introduce new securities to a base prospectus
The Swedish Securities Markets Association has responded to the European Securities and Markets Authority’s (ESMA) consultation on Draft Guidelines on supplements which introduce new securities to a base prospectus. According to Listing Act, it is clarified that a supplement to a base prospectus shall not be used to introduce a new type of security for which the necessary information has not been included in that base prospectus. ESMA’s consultation stems from the longstanding divergence in the supervision of so-called “product supplements” in the EU member states.