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Recital 8

Recital 8

(8)The definition of non-equity securities, set out in Article 2(c) of Regulation (EU) 2017/1129, includes a broad range of different instruments, including complex ones. To ensure the right balance between standardisation and efficiency and avoid imposing an excessive burden for issuers, offerors or persons asking for admission to trading on a regulated market, a standardised format and sequence should only be required for a prospectus for non-equity securities drawn up as a single document, as is the case with simple non-equity securities, such as plain vanilla bonds. In such a case, similar to the approach taken for equity securities, the prospectus should follow the order of sections set out in a new Annex, to be introduced in Delegated Regulation (EU) 2019/980, relating to a prospectus for non-equity securities drawn up as a single document with a standardised format and sequence.

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