5 - Prospectus Rules under MiCA and the Prospectus Regulation

Summary

Chapter 5 discusses the “whitepaper” or prospectus regime in Titles II–IV MiCA and compares it to the Prospectus Regulation. Following an introduction to the objectives, applicable legislation, and the risk-based differentiation of the prospectus rules, Section 5.3 covers the scope of MiCA’s prospectus rules. Section 5.4 explains the prospectus procedure, including the obligation to publish a prospectus, obliged entities, the approval and publication processes, along with expiration, updating, modification, and supplementing of the prospectus. Section 5.5 addresses the content and form of the prospectus, Section 5.6 the liability for information in the prospectus, and finally, Section 5.7 covers the EU-wide application of the prospectus (EU passport).