On 1 April 2016, the CSSF published Circular CSSF 16/635, which amends with immediate effect Circular CSSF 12/539 as amended by Circular CSSF 15/632.
The purpose of Circular CSSF 12/539 is notably to detail the technical specifications regarding the submission to the CSSF, under the law of 10 July 2005 on prospectuses for securities, of documents for offers to the public of securities and/or admissions of securities to trading on a regulated market.
The amendments at hand:
- take into account the provisions in relation to the submission of applications for approval, their receipt and processing, the changes to the draft documents submitted for approval and the submission of the final versions of these documents by Delegated Regulation (EU) 2016/301 of 30 November 2015 by updating the technical specifications regarding the submission to the CSSF of documents for approval or notification; and
- update the process of filing of final terms of base prospectuses approved by the CSSF in accordance with Articles 8(4) and 32(4) of the law on prospectuses for securities as well as the information which the filing of these final terms shall contain.
It should be noted that, from the date of Circular CSSF 16/635 on, the final terms shall be filed via a dedicated form, which is available on the website of the CSSF at https://finalterms.apps.cssf.lu/.
In this context, it should be noted that Delegated Regulation (EU) 2016/301 has entered into force on 24 March 2016 and also contains other provisions, which have not been covered by Circular CSSF 16/635.