EC adopts Delegated Regulation on prospectus metadata under Listing Act

The European Commission has adopted a Delegated Regulation amending the Prospectus Regulation (EU) 2019/979 to align the prospectus metadata and incorporation-by-reference framework with the reforms introduced by the Listing Act (Regulation (EU) 2024/2809).

The regulation updates the machine‑readable data required for prospectus classification to reflect the new EU Follow‑on Prospectus and EU Growth Issuance Prospectus introduced under the Listing Act. It also removes obsolete references to prospectus types that will cease to apply from 5 March, including the simplified prospectus for secondary issuances and the current EU Growth Prospectus.

Additionally, the regulation updates the list of documents that may be incorporated by reference into a prospectus. This includes documents approved or filed under the former Prospectus Directive (2003/71/EC) as well as optional pre‑issuance sustainability disclosures under the European Green Bonds Regulation (EU) 2023/2631. These changes aim to reduce issuer burden while maintaining investor protection. Most provisions will enter into force 20 days after its publication in the Official Journal of the European Union, with key operational changes (under Article 1, points (1), (2) and (4)) expected to apply from 10 July.

Return to main website.