§ Mr. BercowTo ask the Chancellor of the Exchequer what progress has been made in negotiations on the proposed prospectus directive to minimise the disclosure costs of issuers. [32686]
§ Ruth KellyThe UK's objective is to secure a prospectus directive that will strike a more appropriate balance between the need to keep the cost of raising capital as low as possible and to protect the interests of investors.
I am encouraged by both the direction that negotiations in council working group are taking, and the work of the European Parliament to date.
However, all parts of the proposed prospectus directive are still subject to further negotiation.