small and medium-sized enterprises

Definitions over time (1)

31/12/2019 – 04/12/2024 Article 2, Prospectus Regulation Scope: Whole act Also: SMEs

For the purposes of this Regulation, the following definitions apply:

‘small and medium-sized enterprises’ or ‘SMEs’ means any of the following: companies, which, according to their last annual or consolidated accounts, meet at least two of the following three criteria: an average number of employees during the financial year of less than 250, a total balance sheet not exceeding EUR 43 000 000 and an annual net turnover not exceeding EUR 50 000 000; small and medium-sized enterprises as defined in point (13) of Article 4(1) of Directive 2014/65/EU.

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No text uses this concept on 11/11/2026.