This submission reflects LuxCMA’s continuous commitment to representing the interests of the Luxembourg capital markets and shaping the regulatory landscape to support market participants. Why is it important? The Prospectus Regulation plays a pivotal role in ensuring transparency and investor protection across the EU, while also facilitating access to capital for companies. The updates to the CDR on metadata will enhance the accessibility and usability of prospectus-related information, benefiting both issuers and investors.

A document produced in collaboration with the Market Infrastructures working group. This paper delves into the evolving landscape of dematerialised securities, highlighting key insights and recommendations that are set to shape the future of securities issuance in Luxembourg. As the financial industry continues to embrace digital transformation, this publication provides valuable perspectives on the benefits, challenges, and regulatory framework surrounding dematerialised securities.

On 7 December 2022, the European Commission put forward measures to make public markets more attractive for EU companies and facilitate access to capital for small and medium-sized enterprises. The overall objective is to introduce technical adjustments to the EU rulebook that reduce regulatory compliance costs, streamline the listing process and enhance legal clarity while ensuring an appropriate level of investor protection and market integrity.

LuxCMA sums up some of the main changes under the new prospectus regime applicable as from 21 July 2019.