Last Update: 07.01.2014
Each prospectus shall be promptly submitted within the framework of the official procedure:
- The first transmission of the prospectus shall already be carried out by means of an official application. As a result, the attached copies shall bear the issuer’s original signatures (pursuant to Article 8 para 1 KMG, and/or pursuant to Article 8 paras. 2 and 2a KMG as well, in the case of a prospectus audit). Of the attached copies of the prospectus, one hard copy shall be reserved to remain with the FMA (plus one copy for the Oesterreichische Kontrollbank (OeKB) and, if applicable, two copies for Wiener Börse). As in the past, an electronic version of the prospectus shall also be sent to the FMA together with the application (and a cross-reference list, if applicable).
- The incorporated documents shall be deposited at the FMA in the course of submitting a prospectus.
- As soon as the FMA receives the application, the time limits specified in Article 8a paras. 3 and 4 KMG will start to become effective; upon their expiration, as in the past, either an improvement order (by transmitting comments) will be issued or the application will be approved by means of an administrative decision (Bescheid).
- If an improvement order is issued (time limits are suspended), revised versions of the prospectus can, as in the past, be subsequently transmitted electronically (with a version for comparison with the respective previous version enclosed).
- A declaration of identity designed in accordance with the boilerplates available below for download shall be attached to the current version of the prospectus.
- As soon as the improvement order has been fully implemented and that current version of the prospectus has been transmitted, the final version of the prospectus can be submitted (for the number of copies, see above).
- The final version of the prospectus has to be submitted as bound hard-copy.
- In the event of notification in another Member State, an application for notification shall be filed. For the purpose of notification, the FMA needs the final version of the prospectus as well as all incorporated documents in electronic form in pdf format.
Experience has shown that time limits are often tight and we therefore recommend - as some market participants have already done in the past - that the schedules of the prospectuses be coordinated with the FMA’s prospectus team as early as possible.