EU Prospectuses Directive hits roadblocks

The Prospectuses Directive, one of the crucial directives that needs to be passed in order for the EU to meet a 2003 deadline for harmonising rules on financial services has run into trouble after a raft of amendments were proposed by European Parliamentarians. This has forced the European Commission to take back the draft document and put it forward for review by members of the EU Parliament's Economic and Monetary Affairs Committee. The directive has already caused concern among smaller UK firms worried about listing costs, and now the Association of Private Client Investmen...