CESR compiled the relevant information to ease the functioning of the passport of prospectuses and to provide clarity for market participants in relation to the use of languages in the different competent authorities.
CESR has compiled the relevant information in each Member State to ease the functioning of the passport of prospectuses and to provide clarity for market participants in relation to the use of languages in the different competent authorities.
The table below provides, in a columnar format, the following information:
Ø Languages accepted for the scrutiny of the Prospectus: this column includes the languages that each CESR member accepts when acting as home competent authority for the purpose of the scrutiny of the prospectus.
Ø Requirements in relation to the translation of the Summary: Article 19 of the Prospectus Directive allows the competent authority of the host Member State to require the summary of the prospectus to be translated into its official language(s) when prospectuses are being passported into its State. This column provides information for each CESR member when acting as host competent authority on whether or not a translation of the summary of a prospectus passported is required. In addition, it clarifies which are the language(s) acceptable for the translation of the summary when requested.
This table has been compiled with the information provided by CESR members who are responsible for the content. This document will be updated, when necessary, on the basis of new information provided by CESR members.
Languages accepted for the Prospectus and the Summary – February 2009
© CESR - Committee of European Securities Regulators
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