Wednesday, January 21, 2009

Finding International Securities Offering Documents

I searched for this on the web. I couldn't find it so ... below is a list of some of the regulators who have a disclosure-based regulatory system and instructions for finding securities offering documents filed there.

AUSTRALIA

A list of prospectuses approved by Australia's Securities and Investment Commission can be found on the OfferList . The underlying documents aren't there, but they are required to be posted on the offerors website and there's a link.

CANADA

Canada doesn't have a national securities regulator. Under a jointly-adopted rule called National Instrument 31-101 offerings are approved by the provincial securities regulator in the issuer's principal jursidiction. Disclosure documents are posted on a shared disclosure system called SEDAR

HONG KONG

The Hong Kong Securities and Futures Commission publishes this list of approved prospectuses with links to some of the underlying documents.

They also list current M&A transactions

INDIA

The Securities and Exchange Board of India has links to offering and takeover documents

EU Jurisdictions, are subject to the EU Prospectus Directive. The Prospectus Directive is similar to Canada's National Instrument 31-101 in that once the offering document has been approved by one EU regulator it is "passported" and can be used throughout the EU. Each EU country passed its own adopting rules for the Prospectus Directive so there are variations in how documents are made available.

IRELAND

Financial Services Regulatory Authority-approved prospectuses are listed here with links to the full-text offering documents.

Passported prospectuses are listed here.

LUXEMBOURG

Prospectuses are available from the Luxembourg Stock Exchange. You can search without registering, but free registration is required to open the offering documents.

Scroll down to "CONSULTATION" and look for "security search" or "issuer search."

UK

A unit of the Financial Services Authority called the UK Listing Agency maintains the list of approved prospectuses, but the list doesn't give access to the offering document.

Prospectuses for LSE-listed issues area available on the LSE market news search page. Search for headline type, "publication or prospectus." The news release will have a link to the document.

UK-Passported prospectuses are listed here.

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