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Recital 9

Recital 9

(9)Due to the complexity of certain non-equity securities, that often require the disclosure of additional information on complex types of issuers or securities, and considering that an EU Follow-on prospectus for non-equity securities may be drawn up either as a single document or as separate documents, it is important to strike the right balance between standardisation and efficiency. To avoid creating an excessive burden for issuers of non-equity securities, this Regulation should establish a standardised format that distinguishes whether an EU Follow-on prospectus for non-equity securities is drawn up as a single document, or as separate documents referred to in Article 14a(4) of Regulation (EU) 2017/1129 and pursuant to the relevant Annexes introduced by this Regulation in Delegated Regulation (EU) 2019/980. At the same time, flexibility should be allowed when information as set out in other Annexes to Delegated Regulation (EU) 2019/980 is disclosed in an EU Follow-on prospectus.

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