Changes afoot in IPOs

10 November will bring effective coming into force of Regulation (EU) 2020/1503 of the European Parliament and of the Council of 7 October 2020 on European crowdfunding service providers for business.

(…) One of the key changes provides for a new offering document, the key investment information sheet. For public placements, this document shall include, among other details, information about the applicable risk factors, the securities, the investor rights, the applicable fees, and the mechanisms for pursuing claims. The key investment information sheet must also carry a legal disclaimer in the exact wording specified in the Regulation (…)

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