Securities: offer to the public and harmonisation of transparency requirements

This dossier concerns securities offered to the public and the harmonisation of transparency requirements. The amendments address the definition and treatment of qualified investors, replacing the prospectus summary with a key information document, a proportionate disclosure regime for issuers with reduced market capitalisation and SMEs, the validity period and supplements of prospectuses, monetary thresholds for offers exempt from prospectus obligations, and delegated acts under the Treaty.