This new edition continues to provide a comprehensive source of knowledge and practical know-how about the regulation and operation of the securities markets in Europe.The global financial crisis and subsequent loss of investor confidence have led to significant changes in the practice of European securities law. At the European level, the continuing overhaul of the regulatory system (including amendments to the Prospectus and Transparency Directives) and the creation of the European Supervisory Authorities have added a new layer of complexity to the European regulatory framework.