ESMA · ESMA_QA_912 Published Answer Updated

Scope of the wording ‘any bankruptcies, receiverships or liquidations’ used in Annex 1, item 12.1 and Annex 3, item 8.1 (Deleted 09/09/2026)

Regulation
Prospectus Regulation 2017/1129
Topic
Public offer
Submitted
2019-07-12
Answered
2019-07-12
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Question

Third paragraph under (c) of item 12.1 (and item 8.1) requires that the prospectus includes: “details of any bankruptcies, receiverships, liquidations or companies put into administration in respect of those persons described in points (a) and (d) of the first subparagraph who acted in one or more of those capacities for at least the previous five years;” Is the required disclosure limited to declared bankruptcies, receiverships or liquidations? (Deleted 09/09/2026)

Answer

ESMA_QA_912 is deleted - 09 September 2026   [ESMA31-62-1258 Prospectuses Q&A nr 14.4] ESMA considers that the scope of the required disclosure is not restricted to declared bankruptcies, receiverships or liquidations but that also information on bankruptcies, receiverships, liquidations or administration that are pending, or are in progress, should be provided.
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This Q&A is published by European Securities and Markets Authority and is non-binding. It does not constitute legal advice. Updated weekly from official ESA sources.

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