Abstract

The Directive 2003/71/EC, i.e. the «Prospectus Directive», can be considered one of the cornerstones of the internal market of the European Union. In 2010, the disclosure regime applicable to financial instruments pursuant to the abovementioned directive has been amended, with a view to reduce administrative burdens for issuers of such instruments. This paper, aimed at analysing the reform introduced by Directive 2010/73/EU and the relevant implementing acts, will tentatively state the legal framework applicable after the entry into force of such directive, with particular regard to structured products.