Date: 23 February 2016

On 8 February 2016, the European Securities and Markets Authority (ESMA) reviewed Turkish legislation governing prospectus disclosure requirements and concludes that a prospectus drawn up against Turkish requirements can constitute a valid prospectus under the Prospectus Directive for the purposes of its approval by the home competent authority of a Member State.

This Opinion should be read in conjunction with ESMA’s opinion on the Framework for the assessment of third country prospectuses under Article 20 of the Prospectus Directive. For further information on Securities Markets please see here.