Regulatory Alerts2015-12-04
Guidelines on alternative performance measures: implementation by the FSMA
The Belgian Financial Services and Markets Authority (FSMA) implements ESMA guidelines on alternative performance measures (APMs) to ensure consistent application of EU transparency and prospectus regulations. Issuers and persons responsible for prospectuses must define APMs clearly, label them meaningfully, reconcile them to financial statements, and explain their relevance and reliability. These requirements apply to regulated information and prospectuses published on or after 3 July 2016 to improve comparability and investor protection.
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