Searching for freedom
The European Union’s new Prospectus Directive proposes to sweep away state-level rules preventing the formation of a single retail investment market. But will the directive deliver? John Ferry reports
This time next year, the European Union’s (EU) Prospectus Directive rules will be in place. As part of the EU’s plans to create a single pan-European level playing field for financial products, the rules could have profound implications for the sellers and makers of structured products.
One part of the Directive in particular – the ‘single passport’ rule for issuing securities – is designed to liberalise the selling of structured products in retail markets across the region. Come July 1, when
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