Prospectus liability on the prospectus to be published when securities are offered to the public or admitted to trading on a regualated market

Kako bi se osigurala zaštita ulagatelja tijekom javne ponude vrijednosnih papira, potrebno je potencijalnim ulagateljima pružiti informacije koje su, u skladu s prirodom izdavatelja i vrijednosnih papira, dostatne za donošenje utemeljene odluke o ulaganju. Objava ovakvih informacija predstavlja učinkovito sredstvo za povećanje povjerenja u tržište kapitala, a odgovarajući način na koji se takve informacije čine dostupnima bit će upravo objava prospekta. Objavom prospekta nastat će odnos odgovornosti izdavatelja za objavljene informacije. Uređenje ovog odnosa, pretpostavke potrebne da bi do takve odgovornosti došlo te druga pitanja koja bi se mogla pojaviti vezano uz regulaciju ovog odnosa novom Uredbom o prospektu i Zakonom o tržištu kapitala, tema su ovog rada. Rad prati pregled tema od javne ponude vrijednosnih papira, procesa due diligence-a preko uloge HANFA-e i ESMA-e do pojedinosti vezanih uz pretpostavke koje se trebaju ispuniti da bi došlo do odgovornosti povezane s prospektom.In order to ensure the protection of investors during the public offering of securities, it is necessary to provide potential investors with information that, in accordance with the nature of the issuer and the securities, is sufficient to make an informed investment decision. The publication of such information is an effective means of increasing confidence in the capital market, and the appropriate way in which such information is made available will be the publication of the prospectus. The publication of the prospectus will create a relationship between the issuer's responsibility for the published information. The regulation of this relationship, the assumptions necessary for such responsibility and other issues that may arise in connection with the regulation of this relationship by the new Prospectus Regulation and the Capital Market Act, are the subject of this paper. The paper follows an overview of topics from the public offering of securities, the due diligence process through the role of HANFA and ESMA to the details of the assumptions that need to be met in order for liability to be associated with the prospectus