Article 212-38-7 into force since
- Version into force since
A draft prospectus shall be filed with the AMF in the forms set out in this paragraph and in an AMF instruction by the entities referred to in Article 212-38-1 or by any person acting on behalf of said entities. The documentation needed to scrutinise the file shall be submitted to the AMF with the filing. The content and submission procedures for such documentation are specified in an AMF instruction.
The AMF shall acknowledge receipt of the initial filing of the prospectus within two working days. If the dossier is incomplete, the AMF shall so inform the person or entity that filed the draft prospectus within ten working days of the date on which the draft prospectus was filed.
The AMF shall serve notice of its approval within ten working days of the filing date. For the initial offer of shares or mutual company certificates to the public, the AMF shall serve notice of its approval within twenty working days of the filing date.
Where the AMF finds that the draft prospectus does not meet the standards of completeness, comprehensibility and consistency necessary for its approval and/or that changes or supplementary information are needed:
a) It shall inform the entity or person filing the prospectus of that fact promptly and at the latest within the time limits set out in paragraph 3, as calculated from the submission of the draft prospectus and/or the supplementary information; and
b) It shall clearly specify the changes or supplementary information that are needed.
In such cases, the time limit set out in paragraph 3 shall then apply only from the date on which a revised draft prospectus or the supplementary information requested are submitted to the AMF.
If, when scrutinising the file, the AMF states that the documents are incomplete or that additional information must be incorporated, the time limit of ten working days shall apply only from when the AMF has received the additional information.
Head of publications: The Executive Director of AMF Communication Directorate. Contact: Communication Directorate – Autorité des marches financiers 17 place de la Bourse – 75082 Paris cedex 02