The New Disclosure Regime for Structured Products within the European Union

The Directive 2003/71/EC, i.e. the «Prospectus Directive», can be consideredone of the cornerstones of the internal market of the European Union. In 2010, thedisclosure regime applicable to financial instruments pursuant to the abovementioneddirective has been amended, with a view to reduce administrative burdens for issuersof such instruments.This paper, aimed at analysing the reform introduced by Directive 2010/73/EUand the relevant implementing acts, will tentatively state the legal framework applicableafter the entry into force of such directive, with particular regard to structuredproducts.