On 22 October 2019, the Slovenian National Assembly
adopted the amended Market in Financial Instruments Act (the Act). The Act
comes into force on 20 November 2019 and has been adopted mainly due to the new
underlying European legislative framework. Namely, the Prospectus Regulation
(fully effective as of 21 July 2019) replaced the Prospectus Directive and its implementing
laws. The Act carries a more limited scope than its predecessor, given
that it may not be considered as an implementing, but rather as an
The aspects of the prospectus summary and the
disclosure of the risk factors are to be considered as particularly amended
under the new prospectus regime. Issuers of equity and non-equity securities on
a continuous basis may use the universal registration document. Qualifying
issuers, including SMEs, will be allowed to prepare a simplified prospectus.
The exemption regime has been changed, now allowing the offering of securities
of up to EUR 3 million without a prospectus in Slovenia.
By: Suzana Bončina Jamšek, Partner