Answers to common questions on the practical application of the Prospectus Directive (2003/71/EC) and the Prospectus Directive Regulation (EC) 809/2004. The purpose of the FAQs is to promote common approaches and practices in the application of the Prospectus Directive and its implementing measures. Version 30 of the FAQs was published in April 2019.

The Prospectus Directive was repealed and replaced by the Prospectus Regulation (EU) 2017/1129 with effect from 21 July 2019. ESMA has published Questions and Answers on the Prospectus Regulation.

ESMA stated that it would continue to publish the Prospectus Directive FAQs during the period in which prospectuses that have been approved under the Prospectus Directive may continue to be valid (until 21 July 2020). After this period, the Prospectus Directive FAQs will no longer apply.