Vertybinių popierių emisijos registravimo teisinis reglamentavimas

Abstract

The latter is one of the decisive factors of the increase of the disposable capital in the market. Furthermore, it will have a significant impact upon the State approach towards the issues of the establishment of local institutional investors and double taxation of capital. Lately, the issue of legislation applicable to the securities market has been causing an increased interest among the public and market participants. The Directive 2003/71/ EC on the prospectus to be published when securities are offered to the public or admitted to trading approach to make the regulatory process for Community securities legislation more efficient and transparent. One of the objectives of this Directive is to protect investors. Investment in securities, like any other form of investment, involves risk. Safeguards for the protection of the interest of actual and potential investors are required in all Member States in order to enable them to make an informed assessment of such risks and thus to take investment decisions in full knowledge of the facts. The purpose of this Directive is to harmonise requirements for the drawing up, approval and distribution of the prospectus to be published when securities are offered to the public or admitted to trading on regulated market situated or operating within a Member State.