Investment prospectus

Unlike securities prospectuses, investment prospectuses are not checked by the FMA. They are usually to be checked by external auditors for their correctness and completeness. The obligation to publish a prospectus is relaxed, where an exception pursuant to Article 3 KMG 2019 applies.

Notification in an EEA Member State as well as authorisation to a regulated market are not possible in the case of investment prospectuses.

A simplified prospectus pursuant to Annex D to the KMG 2019 may be produced, provided that the total value of investments offered within a 12 month period does not exceed EUR 5 million.

Investment prospectuses are generally valid for an unlimited period of time, in the event that they require supplements pursuant to Article 6 KMG.