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The QCA recently sent a briefing paper to key MEPs on the Economic and Monetary Affairs Committee of European Parliament suggesting three amendments to the Prospectus Directive legislation that they should table for further debate. These include raising the fundraising threshold from €2.5 million to €10 million; exempting rights issues on regulated markets from the need to produce a prospectus and allowing Member States to extend this exemption to multilateral trading facilities; and extending the proportionate disclosure regime for companies with small market capitalisations to those on multilateral trading facilities. Amendments to the Prospectus Directive had to be tabled by MEPs by 22 February 2010. The Economic and Monetary Affairs Committee will be debating these amendments and voting on them in due course. Watch this space.

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