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Who Is Responsible For A Company"s Prospectus When The Company’s Shares Have Been Admitted For Trading On A Regulated Market?
Andreas Blomquist, Legal Counsel, NASDAQ OMX, Sweden
Who is responsible for a company’s prospectus when the company’s shares have been admitted for trading on a regulated market? At times a discussion arises as to whether others than the company itself or its board of directors could be held liable to pay damages for financial losses caused by errors or omissions in the prospectus. By outlining the basis for the responsibility of a company’s prospectus based on securities, company and tort law this paper is aiming to describe and discuss the situation in Sweden with special focus on the Exchange’s perspective. An overview of the relevant rules in the other Nordic countries is also presented.
Andreas Blomquist, joined NASDAQ OMX Stockholm AB as Legal Counsel in 2009. Until joining NASDAQ OMX Mr. Blomquist was an associate lawyer and advokat with Mannheimer Swartling, Stockholm and Brussels and prior to that worked with Hogan & Hartson, Brussels.
NASDAQ OMX Stockholm AB, the Stockholm Stock Exchange, is a subsidiary of NASDAQ OMX Group, the world’s largest exchange company with trading, technology and public company service capability spanning 6 continents.
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