On 15 February 2021, the Council of the EU announced that it had adopted legislative measures to the revised Markets in Financial Instruments Directive (MiFID II) and the Prospectus Regulation to help facilitate the recapitalisation of EU companies on financial markets in the wake of the COVID-19 pandemic. The changes to MiFID II include those that reduce the information on costs and charges that must be provided to professional investors and eligible counterparties. Paper-based investment information will also be phased out, except for retail clients if they ask to continue to receive it. Other changes include adaptations to the position limit regime for commodity derivatives to support the emergence and growth of euro-denominated commodity derivatives markets. Amendments to the Prospectus Regulation will allow companies to create a new shorter form ‘EU recovery prospectus’ which will be available for capital increases of up to 150% of outstanding capital within a period of 12 months. The new regime will apply until the end of 2022. Both legislative measures are expected to be published in the Official Journal of the EU before the end of February. Amendments to MiFID II will enter into force on the day following their publication and member states will be required to transpose them into national law within nine months of that date. The measures will become applicable 12 months after the entry into force of the directive. Amendments to the Prospectus Regulation will enter into force on the 20th day following the date of their publication.