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16 January 2020 / news

The LuxSE updates its Rules & Regulations

The LuxSE has substantially amended its Rules & Regulations to integrate recent mandatory legal and regulatory developments as well as to provide increased clarity, transparency and usability for its clients.

pencil, coins and building on green and blue background - Rules & Regulations of the LuxSE

The Rules & Regulations of the LuxSE (the R&R) have been updated in January 2020 to take into account both recent legal and regulatory developments (i.e. inter alia, the EU Prospectus Regulation and the law of 16/07/2019 on prospectuses for securities – the Prospectus Law) and feedback received over the last years from issuers and counterparts of the LuxSE.

Concerning the Regulated Market of the LuxSE, the new R&R introduce an appendix for alleviated prospectuses for admission to trading on the regulated market of securities not covered by the EU Prospectus Regulation (Part III, Chapter 2 of the Prospectus Law).

However, the main and most important changes introduced by the new R&R relate to prospectus requirements for the admission of securities on the Euro MTF, as highlighted below:

  • introduction of clearly structured building blocks in the form of appendices for both issuers and securities across all asset classes, as well as guidelines on how to combine them;
  • lighter requirements for listed entities and convertible debt;
  • new single schedule for derivative securities;
  • broader scope of prospectus exemptions;
  • creation of a single prospectus regime for the admission to trading to the Euro MTF (based on the requirements of the wholesale regime).

The new R&R replace the version dated 11/2018 and will enter into force on 31/01/2020.

For more information, please consult the relevant page on the LuxSE’s website.



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