Regulatory Alerts2012-01-11
Obligations of Issuers on Regulated Markets
The Belgian Financial Services and Markets Authority (FSMA) issued this circular to clarify the application of Belgian regulations transposing the EU Transparency Directive and Market Abuse Regulation for issuers whose securities are admitted to trading on a regulated market. The document details specific obligations regarding equal treatment of security holders, the timely publication of inside information, and the submission of periodic financial reports and other disclosures. It further establishes the FSMA's supervisory framework, including its powers to investigate, order public disclosure, and impose administrative penalties for non-compliance.
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