This
dissertation
aims
to
provide
an
updated
overview
of
the
legislative
framework
for
the
prospectuses
accompanying
the
offer
of
securities
to
the
public
or
their
admission
to
a
regulated
market
in
the
European
Economic
Area.
The
recent
developments
of
the
Prospectus
Directive
and
the
Regulation
implementing
the
Directive
brought
significant
changes
for
the
issuers
of
securities
and
financial
markets
participants.
The
increasing
integration
of
the
European
financial
markets
and
the
sophisticated
nature
of
such
provisions
render
the
monitoring
of
these
arrangements
a
necessity
for
the
stakeholders
seeking
for
clarity
and
comprehensive
understanding
of
the
different
regimes
in
place.
In
this
respect,
this
study
presents
the
basic
requirements
for
the
issuing
of
prospectuses
and
a
summary
of
the
administrative,
civil
and
criminal
liability
regimes
prevailing
in
both
a
civil
and
a
common
law
jurisdiction,
namely
in
Greece
and
the
United
Kingdom.
It
is
in
general
concluded
that
the
Prospectus
Directive
is
transposed
into
the
national
legal
orders
in
a
similar
but
not
uniform
manner.
The
sanctions
prescribed
take
the
form
of
both
fines
and
imprisonment,
however
the
fine
amounts
and
the
duration
of
custody
differ
significantly
across
jurisdictions.
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