EFAMA welcomes the decision of the Commission to review the prospectus regime with the objective to make it easier and simpler for companies generally and in particular SMEs in Europe to access capital markets, to provide all types of issuers with further simplification and flexibity and to ensure adequate information for investors. It also welcomes that this review is a part of the Capital Markets Union action plan and its short term priorities, as facilitating new securities’ issuance, while at the same time safeguarding investors’ access to key information, is necessarily linked to the main CMU goals of providing alternative sources of financing for business and more opportunities for investors in the EU.