The European Commission has launched a consultation on its review of the application of the Prospectus Directive, including some proposals to improve and simplify this Directive. The Prospectus Directive aims to ensure that investors are provided with clear and comprehensive information when making investment decisions. The Commission now wishes to assess the potential impact of its proposals and the merit of any alternative approaches. All interested stakeholders, in particular businesses, investors and consumers, are invited to participate. The proposal is a key element of the Commission's action plan to reduce administrative burdens on EU companies. The closing date for replies is 10 March 2009.