meta_id 3203598

On February 23, 2026, the European Commission adopted Commission Delegated Regulation (EU) 2026/395, amending the regulatory technical standards in Commission Delegated Regulation (EU) 2019/979. The amendment updates machine-readable data requirements and expands the list of documents that may be incorporated by reference into prospectuses under Regulation (EU) 2017/1129. The regulation responds to the Listing Act initiative, which aims to make European public capital markets more attractive and facilitate access to capital for small and medium-sized enterprises (SMEs). Regulation (EU) 2024/2809 introduced two new short-form prospectus types: the EU Growth issuance prospectus, designed primarily for SMEs and companies listed on SME growth markets, and the EU Follow-on prospectus for secondary issuances by already-listed companies. The amendment updates Annex VII to include machine-readable data fields for these new prospectus types and for securities qualifying as European Green Bonds (EuGBs) under Regulation (EU) 2023/2631, as well as bonds marketed as environmentally sustainable or sustainability-linked bonds. The regulation permits competent authorities to submit exemption documents and information required under Article 21a of Regulation (EU) 2017/1129 to the European Securities and Markets Authority (ESMA) via the notification portal, reducing compliance burdens. Additionally, it permits incorporation by reference of documents previously approved under Directive 2003/71/EC and optional pre-issuance disclosure templates for sustainable bonds, minimising administrative costs for issuers, particularly SMEs. The regulation enters into force on the twentieth day following publication in the Official Journal of the European Union. However, most substantive provisions apply from July 10, 2026, aligning with the application date of Article 21a requirements to enable coordinated use of the notification portal and European Single Access Point. REFERENCES: Commission Delegated Regulation (EU) 2026/395 of 23 February 2026: http://data.europa.eu/eli/reg_del/2026/395/oj