Prospectus liability in EU: an overview of existing legal regimes

Ampovska, Marija (2023) Prospectus liability in EU: an overview of existing legal regimes. In: The Influence of European Integration on the Development of Monetary Law, 30-31 May 2023, Nis, Serbia. (Unpublished)

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Abstract

Previous research and analyses of prospectus liability in the EU have shown that currently there are three existing legal regimes that are the legal basis of prospectus liability:
- introduction of specific statutory provisions related to prospectus liability and eventually general civil law provisions (the case of Germany, Spain, and Italy)
- relying solely on their general civil law liability (the case of France);
- mixed forms in which prospectus liability is the result of a combination of general liability law and special legislation (the case of Luxembourg and the Netherlands)
This contribution aims to provide an overview of the three existing legal regimes in the European Union, as well as to compare the law of North Macedonia with regard to the focus of the research. In that manner, the contribution will also focus on several key terms and their meaning, such as prospectus disclosure, the content, format, and structure of the prospectus, materiality in the context of prospectus liability, defectiveness of prospectus information (incorrect or incomplete prospectus) and other.
Finally, this contribution will also provide a review of the current tendency for the uniformization of prospectus liability in the EU where chief arguments are that the conflict-of-laws rules governing this area are highly uncertain and that the divergence of national liability regimes leads to investor discrimination.

Keywords: prospectus, civil liability, materiality, defectiveness, damages, responsible person.

Item Type:	Conference or Workshop Item (Paper)
Subjects:	Social Sciences > Law
Divisions:	Faculty of Law
Depositing User:	Marija Radevska
Date Deposited:	08 Jun 2023 09:41
Last Modified:	08 Jun 2023 09:41
URI:	https://eprints.ugd.edu.mk/id/eprint/31875

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