The International Organization of Securities Commissions is publishing for public consultation a report on disclosure principles for international debt offerings.

The report sets forth substantive disclosure principles for documents used in public offerings and listings of “plain vanilla” corporate debt securities. IOSCO says it believes that the principles are especially pertinent given the increased volume of public offerings and listings of debt securities in the international capital markets, and the increased participation of retail investors in those markets.

“The International Debt Disclosure Principles should provide useful guidance to securities regulators who are developing or reviewing their regulatory disclosure regimes for cross-border offerings and listings of debt securities,” it notes. “The principles-based format for this project is expected to provide maximum flexibility and adaptability, so that the International Debt Disclosure Principles can potentially be applied to a broader range of debt securities.”

After the consultation process has concluded and all comments received from the public have been fully considered, the IOSCO intends to issue a final version of the principles. Comments are due by December 22.