Liechtenstein Aligns Investment Laws With EU
Friday, January 27, 2012
The Liechtenstein government has recently adopted a proposal to
amend the principality’s Securities Prospect Act, Disclosure Act, and Asset Management Act, to bring them into line with
European Union guidelines.
According to the Liechtenstein government, the bill provides for the implementation
of European directive 2010/73/EU pertaining to prospectuses published when
securities are offered or submitted for trading. In particular, the format and
content of the prospectus summary (key information) are improved, reducing the
disclosure requirements for both small companies and financial institutions offering
securities.
The directive also necessitates changes to existing legislation to harmonize
transparency requirements in relation to information about issuers whose securities
are admitted to trading on a regulated market.
The government explains that the directive aims to improve the application
of the law, to reduce the administrative burden on issuers and on financial
intermediaries, to improve investor protection and to ensure sufficient and
adequate information is available to meet the needs of small investors. |
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