Regulatory Alerts2020-11-23
Added · Updated
Guidelines on enforcement of financial information
ESMA issues guidelines requiring competent authorities in EU and EEA states to enforce consistent, effective, and efficient supervisory practices regarding the application of financial reporting standards under the Transparency Directive. The document mandates that authorities integrate these guidelines into their supervisory frameworks and report compliance status within two months of publication. Revised guidelines numbered 5, 6, 6a, and 6b become effective on January 1, 2022, aiming to strengthen investor confidence and prevent regulatory arbitrage through harmonized procedures for checking financial information disclosed by issuers.
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