UK:
AFM Publishes Rules On The Mandatory Exemption Notice
12 July 2011
De Brauw Blackstone Westbroek N.V.
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The AFM has drawn up rules on the use of the mandatory exemption
notice. From 1 January 2012, the text for the notice should read:
"Attention! This investment falls outside AFM supervision. No
licence required for this activity", or "Attention! This
investment falls outside AFM supervision. No prospectus required
for this activity." The text must be followed by a standard
drawing of a person thinking, with a question mark next to him.
The AFM has also released the new text of the Further Regulation
on Conduct of Business Supervision of Financial Undertakings. This
regulation outlines how the notice should be used and where it
should be placed, e.g. in advertising and other information
materials. The Further Regulation will take effect later this
year.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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