On Mar. 18, AUT FMA consulted on secure e-prospectus portal reg.
AUT FMA opened consultation on the second draft regulation on the secure electronic prospectus portal regulation (SEPP-V), which is an application to submit a prospectus.
Main Points
The web-based application is used for electronic submission and electronic communication between those who submit the documents for approval and AUT FMA.
Clarification re identification and authentication of the prospectus submitter with E-ID.
Provisions on proof of power of representation; electronic proof of prospectus approval.
Upon adoption, the regulation SEPP-V will be entering into force on Jan. 1, 2025.
Effectiveness
Comments can be submitted via email until Apr. 15, 2024.
May 2024 Regulation Published
On May 22, 2024, AUT FMA published Secure Electronic Prospectus Portal Regulation – SEPP-V in the official gazette; reg's provisions will enter into force on Jan. 1, 2025.
May 23, 2024 AUT FMA Announcement
On May 23, 2024, AUT FMA announced the publication of the new Secure Electronic Prospectus Portal - Regulation (SEPP-VO) allowing a full electronic prospectus service.
Document dated May 23, 2024, received from AUT FMA May 27, summarized May 31.
The regulation covers technical aspects to be fulfilled so that a prospectus submitted electronically to AUT FMA can be unambiguously attributed to submitter and the issuer.
This creates legal requirements so the market and supervisory authorities can prepare for a digital portal for capital market prospectuses, to go online at beginning of 2025.
With SEPP-VO, AUT FMA will offer one of most modern portals for submission of capital market prospectuses in Europe, where a prospectus submitter can prove their identity electronically and digitally authenticate submitted prospectus, also on behalf of issuers.
After review, AUT FMA can send the prospectus, including the electronic approval note, to the issuer for publication, and to AUT CB for electronic deposit without disruption.
The technical solution corresponds to a harmonized EU legal framework, meaning that all capital market prospectuses are available throughout the European internal market.
