On 5 May 2021, the European Securities and Markets Authority (ESMA) updated its Q&As on the Prospectus Regulation.

ESMA has added three new Q&As that provide clarification on:

• The application of Article 4(1) of the CRA Regulation to credit rating disclosure in prospectuses.
• How to determine the home Member State in the context of global depository receipts over shares.
• The publication of supplements to prospectuses when new audited annual financial information is published by a non-equity issuer.