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prospektskyldighet

English translation: prospectus delivery requirement/prospectus delivery obligation

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Swedish term or phrase:prospektskyldighet
English translation:prospectus delivery requirement/prospectus delivery obligation
Entered by: Helen Johnson
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10:00 Feb 9, 2009
Swedish to English translations [PRO]
Bus/Financial - Finance (general) / shares offer
Swedish term or phrase: prospektskyldighet
Erbjudandet förutsätter en investering av varje investerare om minst xx xxx kronor och riktas enbart till en begränsad krets av i förväg identifierade investerare och är således inte föremål för prospektskyldighet enligt lagen (1991:980) om handel med finansiella instrument.
I'm not familiar with the details of shares issues/prospectuses, etc. - does this mean that the offer doesn't have to be published as part of a company prospectus, or something else?
TIA
Helen Johnson
United Kingdom
Local time: 13:48
prospectus delivery requirement/prospectus delivery obligation
Explanation:
As you noted, the Act does impose an obligation to issue a formal prospectus describing the investment offering. It also defines the exception circumstances. The relevant part of the Act in Swedish is at the first reference link:

2 kap. Prospekt
Prospektskyldighet
1 § Ett prospekt skall upprättas när överlåtbara värdepapper
erbjuds till allmänheten eller tas upp till handel på en
reglerad marknad, om inte något annat följer av 2-7 §§.
Lag (2007:535).

Undantag från prospektskyldighet
Allmänt

2 § Bestämmelserna om prospekt i denna lag tillämpas inte, om
de överlåtbara värdepapperen utgörs av

1. andelar i en investeringsfond eller i ett sådant fondföretag
som avses i 1 kap. 7 eller 9 § lagen (2004:46) om
investeringsfonder, eller

2. penningmarknadsinstrument med kortare löptid än ett år.
Lag (2007:535).

The usual English phrase is "prospectus delivery requirement," or "prospectus requirement" informally. "Prospectus delivery obligation" is also used -- see the second reference link for both usages by the securities regulator in the U.S.



--------------------------------------------------
Note added at 2 hrs (2009-02-09 12:41:01 GMT)
--------------------------------------------------

The U.K. regulator also uses "prospectus requirement": http://www.fsa.gov.uk/pubs/cp/cp04_18.pdf.
Selected response from:

Charles Ek
United States
Local time: 08:48
Grading comment
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4 KudoZ points were awarded for this answer

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Summary of answers provided
4prospectus delivery requirement/prospectus delivery obligation
Charles Ek


  

Answers


2 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
prospectus delivery requirement/prospectus delivery obligation


Explanation:
As you noted, the Act does impose an obligation to issue a formal prospectus describing the investment offering. It also defines the exception circumstances. The relevant part of the Act in Swedish is at the first reference link:

2 kap. Prospekt
Prospektskyldighet
1 § Ett prospekt skall upprättas när överlåtbara värdepapper
erbjuds till allmänheten eller tas upp till handel på en
reglerad marknad, om inte något annat följer av 2-7 §§.
Lag (2007:535).

Undantag från prospektskyldighet
Allmänt

2 § Bestämmelserna om prospekt i denna lag tillämpas inte, om
de överlåtbara värdepapperen utgörs av

1. andelar i en investeringsfond eller i ett sådant fondföretag
som avses i 1 kap. 7 eller 9 § lagen (2004:46) om
investeringsfonder, eller

2. penningmarknadsinstrument med kortare löptid än ett år.
Lag (2007:535).

The usual English phrase is "prospectus delivery requirement," or "prospectus requirement" informally. "Prospectus delivery obligation" is also used -- see the second reference link for both usages by the securities regulator in the U.S.



--------------------------------------------------
Note added at 2 hrs (2009-02-09 12:41:01 GMT)
--------------------------------------------------

The U.K. regulator also uses "prospectus requirement": http://www.fsa.gov.uk/pubs/cp/cp04_18.pdf.


    Reference: http://62.95.69.15/cgi-bin/thw?%24%7BHTML%7D=sfst_lst&%24%7B...
    Reference: http://www.sec.gov/rules/proposed/33-7233.txt
Charles Ek
United States
Local time: 08:48
Meets criteria
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 24
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