EUROPE - The Committee of European Securities Regulators (CESR) has recommended that listed companies disseminate regulated information to all investors across Europe, free of charge.
Their recommendations come as part of their technical advice on the EU’s Transparency Directive. CESR is consulting with the European Commission regarding implementation of the Transparency Directive which covers five areas - dissemination of regulated information, notification of major holding of voting rights, half yearly financial reports, equivalence of transparency requirements for third country issuers, and how an issuer can elect a “home Member state” authority for regulating these aspects.
CESR also recommends that issuers prepare half yearly reports in accordance with international accounting standards and give a condensed version of the balance sheet and profit and loss sheet at a minimum.
CESR is soliciting response to their advice on the Transparency Directive. Interested parties can submit their responses by 27 May.
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