Article 36
Criteria for the scrutiny of the completeness of the information contained in the prospectus
1.
For the purposes of scrutinising the completeness of the information in a draft prospectus, competent authorities shall consider all of the following:
(a)
whether the draft prospectus is drawn up in accordance with Regulation (EU) 2017/1129 and this Regulation, depending on the type of issuer, the type of issuance, the type of security and the type of offer or admission to trading;
(b)
whether the issuer has a complex financial history or has made a significant financial commitment, as referred to in Article 18.
2.
For the purposes of point (b) of paragraph 1, competent authorities may require the issuer to include, modify or remove information from a draft prospectus, taking into account the following:
(a)
the type of securities;
(b)
the information already included in the prospectus and the existence and content of information already included in a prospectus of the entity other than the issuer, as well as the applicable accounting and auditing principles;
(c)
the economic nature of the transactions by which the issuer has acquired, or disposed of, its undertaking or any part of it, and the specific nature of that undertaking;
(d)
whether the issuer can obtain with reasonable effort information about the entity other than the issuer.