25 March 2004

Compromise agreement on Transparency Directive

In their negotiations on the forthcoming Transparency Directive Council, Parliament and the European Commission now seem to have found an agreement. According to M Skinner, EMAC rapporteur of the Directive, the compromise rejects the clause providing for ‘mandatory’ quarterly reporting by share-trading companies.

The compromise also foresees to accept that US GAAP imposes 'equivalent requirements' for certain bonds traded in London.

The report of the European Parliament will be voted during next session end-March. If an overall compromise can be reached before the vote, the Directive could be adopted at first reading.

© European Parliament