Regulatory AlertsDOC-2015-12 Alternative Performance Indicators
The French Autorité des marchés financiers (AMF) adopts ESMA guidelines on Alternative Performance Measures (APMs) through position DOC-2015-12, replacing the previous DOC-2010-11 recommendation. This new position expands the scope to include prospectuses and mandates that APMs must not be presented with greater prominence than statutory financial statements. It further requires systematic references to documents providing definitions and explanations to ensure transparency, comparability, and reliability of non-GAAP measures.
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