News & Events

Dublin Law Firm Launches Guide to New EU Securities Legislation

25 June 2004

Mr. Peter Doyle, Director of the European Commission in Ireland has launched "European Union Securities Legislation" on behalf of law firm Mason Hayes & Curran.

Mr. Peter Doyle, Director of the European Commission in Ireland has launched "European Union Securities Legislation" on behalf of law firm Mason Hayes & Curran. The new publication is intended to aid European market participants and advisors in preparing for the new EU securities law environment.

Containing all of the principal new EU Directives and regulations emerging from the EU Financial Services Action Plan (FSAP), the book also contains an overview of the FSAP to date. Central among the FSAP measures is the new EU Prospectus Directive, which although not due to be implemented across the European Union until 1 July 2005, has already begun to affect non-EU companies. The Directive is seen as of particular importance to issuers of securities from non-EU countries.

Other directives contained include the Market Abuse Directive, the Takeover Bids Directive, the Transparency Directive and Directive on Markets in Financial Instruments.

Fionán Breathnach, Head of Investment Funds at Mason Hayes & Curran commented: "The FSAP has completely changed the existing law and this book contains all the key Directives and Regulations cross-referenced to existing EU law. The new EU securities legislation will no doubt assist businesses and will provide openings for entrepreneurial member states of the EU. Additionally, the new and improved law measures are very important to non-EU companies and in particular American companies. In fact one of the main reasons for us to put this book together is to help US companies and their professional advisers gain knowledge of the new law."

Paul Egan, Head of Corporate at Mason Hayes & Curran said: "Of immediate interest to non-EU companies and advisers is the new concept of "Home Member State", whereby non-EU companies will be regulated in their issue of prospectuses and provision of ongoing information to the market. Ireland is viewed by many such companies as an ideal "Home Member State", in view of the language and the country's regulatory and advisory infrastructure"

Established in 1968, Mason Hayes & Curran is a leading Irish law firm with offices in Dublin and New York and is founded on the principles of quality legal services and close client / lawyer relationships.