Recital 23

(23) Regulation (EU) 2017/1129 allows an issuer which has had a universal registration document approved by its competent authority for a period of two consecutive financial years to have the status of frequent issuer and be able to file all subsequent universal registration documents, and any amendments thereto, without prior approval. To reduce unnecessary burdens and incentivise the use of the universal registration document, that period should be reduced to one financial year. Such alleviation will not affect investor protection, as a universal registration document and any amendments thereto are not able to be used as the constituent part of a prospectus without being approved by the relevant competent authority. Furthermore, a competent authority is allowed to review a universal registration document which has been filed with it on an ex post basis whenever that competent authority deems it necessary and, where appropriate, request amendments.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-17 · Text as adopted (Official Journal); later amendments are not incorporated in this text.