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UK calls for compromise on prospectus directive

The Greek presidency of the European Union and the European Commission are to meet with Parliamentary members in an attempt to resolve outstanding disagreements over the troubled prospectus directive.

Under the new directive, standard rules would apply to all prospectuses in the EU. This would allow them to be approved by one national regulator which would give them a passport to other member states. The current system of requiring separate prospectuses for each EU country is very expensive for the issuer.

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