Supervision release 27 April 2021 – 18/2021

Revision to Regulations and Guidelines 9/2019 Presentation of information in a prospectus under the Prospectus Regulation

By revising Regulations and Guidelines 9/2019, the Financial Supervisory Authority (FIN-FSA) implements nationally the European Securities and Markets Authority’s (ESMA) guidelines on disclosure requirements under the Prospectus Regulation (ESMA32-382-1138).

The revision will enter into force on 4 May 2021.

The purpose of these guidelines is to help market participants to understand and comply with the disclosure requirements set out in the Commission Delegated Regulation and to enhance consistency across the Union. These Guidelines apply to competent authorities and market participants as defined in the Prospectus Regulation, including the persons responsible for a prospectus under Article 11(1) of the Prospectus Regulation.

The FIN-FSA recommends that persons covered by the regulations and guidelines familiarise themselves with the regulations and guidelines, and comply with them. ESMA’s power to issue guidelines on the content requirements of a prospectus is based on the Prospectus Regulation and the ESMA Regulation.

For further information, please contact

Merja Elo, Market Supervisor, tel. +358 9 183 5225 or merja.elo(at)