08 October 2003

CEPS criticizes Transparency Directive

The Centre for European Policy Studies (CEPS) published a report on the planned EU disclosure regulation criticizing that policy-makers should be aware that regulating disclosure is a moving target and that one can never mandate an optimal level of disclosure.

Furthermore, CEPS states that mandatory quarterly reporting does not increase the level of relevance or reliability of the disclosed information. Problems might also arise with regard to the existing Directives on Market Abuse and Prospectuses.

CEPS advise is that the EU should maintain a degree of competition between its different jurisdictions rather than simply mimicking the US in setting the EU disclosure regime. The diversity might be the very source of long-term competitive advantage of the EU, the report states.

Press release

© CEPS - Centre for European Policy Studies