Poland adopts draft bill amending public offering law
October 31, 2012
The Polish government adopted a draft bill amending public offering law which simplifies reporting obligations of issuers, increases efficiency of public offers' supervision and better protects investors' interests, the government press office said in a press statement.
The biggest changes include "simplifying reporting duties for some forms of public offerings," as well as "expanding the form and content of issue prospectus summary" so that it becomes the basic source of information for retail investors, the statement reads.
Moreover, the draft introduces the possibility of the so-called "retail cascade," which enables the sale of securities to select financial institutions, which then resell them to other institutions and then eventually to retail clients, the government also said.