Article 36 — Criteria for the scrutiny of the completeness of the information contained in the prospectus
- For the purposes of scrutinising the completeness of the information in a draft prospectus, competent authorities shall consider all of the following:
- whether the draft prospectus is drawn up in accordance with Regulation (EU) 2017/1129 and this Regulation, depending on the type of issuer, the type of issuance, the type of security and the type of offer or admission to trading;
- whether the issuer has a complex financial history or has made a significant financial commitment, as referred to in Article 18.
- For the purposes of point (b) of paragraph 1, competent authorities may require the issuer to include, modify or remove information from a draft prospectus, taking into account the following:
- the type of securities;
- the information already included in the prospectus and the existence and content of information already included in a prospectus of the entity other than the issuer, as well as the applicable accounting and auditing principles;
- the economic nature of the transactions by which the issuer has acquired, or disposed of, its undertaking or any part of it, and the specific nature of that undertaking;
- whether the issuer can obtain with reasonable effort information about the entity other than the issuer.