Zagreb - Parliament on Wednesday debated a bill of amendments to the Capital Market Act which simplify and facilitate access to the capital market and raises the prospectus issue threshold.
The bill raises the threshold for issuing a prospectus from €5 million to 8 million in the kuna equivalent, with the obligation to draw up an information document for all securities offers to the public in the value between €4 million and 8 million in the kuna equivalent.
The amendments represents an administrative relief for issuers and/or bidders and lowers the cost of issuing securities. At the same time, the prospectus gives investors standardised and essential information based on which they can make an investment decision.
The state secretary at the Finance Ministry, Zdravko Zrinušić, said the Capital Market Act stipulated that a market mediator must be a joint-stock company or a limited liability company.
Given that craft businesses also operate on the financial services market and the scope of their services and responsibilities, in order to facilitate and equate conditions for performing comparative activities on the financial market, it was necessary to allow craft businesses to act as market mediators in line with the Capital Market Act.