The case for a single-document-driven European issuer-disclosure regime

more+
less-

The disclosure regime to which corporate equity

issuers listed on European regulated markets are subject under

the relevant European financial regulation have similar objectives

whether or not the issuer is offering securities at the time of

disclosure. From this premise, this article argues that the

content and format of disclosure should be the same on primary

and secondary markets, at least with respect to large and

thickly traded issuers whose securities are traded in an efficient

market. More specifically, a move to an integrated disclosure

regime and to a company registration system is advocated. This

includes the suppression of the separate drafting, dissemination

and storage of periodic reports which should be replaced by a

periodic update of the initial disclosure document. The suggested

scheme should lower the costs for issuers and supervisory

authorities. It should also make comparisons by investors

easier.

LOADING PDF: If there are any problems, click here to download the file.


DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Gaëtane Schaeken Willemaers | Attorney Advertising

Written by:

more+
less-

Gaëtane Schaeken Willemaers on:

JD Supra Readers' Choice 2016 Awards
Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×
Loading...
×
×