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CySEC broadens cases of prospectus submission in English

The Cyprus Securities and Exchange Commission (CySEC) is broadening the number of cases in which is accepting a prospectus to be drawn up in English.

According to a CySEC statement, a Policy Statement on amending the accepted languages for a prospectus was published today, with the main change relating to cases where an offer of securities to the public is made or admission to trading on a regulated market is sought only in the Republic of Cyprus, the accepted languages for a prospectus, will be in Greek or English, which is customary in the sphere of international finance, while in addition, CySEC requires that the summary of the prospectus be also made available in Greek.

As stated, the Policy Statement concerns the entities that undertake the offering of securities to the public or seeking an admission to trading on a regulated market only in Cyprus, where it is the home member state, in one or more member states excluding Cyprus, where Cyprus is the home member state, on a regulated market in more than one member state including Cyprus, where Cyprus is the home member state, and on a regulated market in more than one member state including Cyprus, where Cyprus is the host member state.

"In the case of the publication of a Prospectus in English, a summary will also be provided in Greek, which will contain basic information for making an investment decision. Our goal is to ensure the protection of investors in a proportionate manner," CySEC Chairman Dr Theocharides said, according to the statement.

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