EU Transparency Directive - ACT (and others) Position Paper

ACT and other bodies urge immediate rather than quarterly announcements

We agree with the Commissioner and endorse his objectives. But our concern is that the proposed Transparency Directive in its current form won’t deliver. By mandating Quarterly Reports for all public companies, the Commission is favouring a static model of disclosure when we believe continuous disclosure can offer more to investors.

Europe risks missing an opportunity to raise the quality of disclosure across all the Member States and to promote a real pan-European market for investment and for company information.