CESR released for consultation its advice on possible implementing measures of the Transparency Directive.
CESR also explores how best to develop an EU-wide database about financial information of listed companies for easy access by EU investors.
With regards to the minimum standards for the dissemination of regulated information CESR proposes to widen the definition of ‘publishing’ to include email, fax and other forms of communication. However, the information should be made available to consumers without delay, all investors should have access to the information and it should also be available across Europe and without charge to investors.
Regarding a single access point for EU investors to gain financial information on EU issuers, CESR sets out some potential options. A central storage mechanism could be operated by a competent authority or a commercial entity.
A further consultation paper will be published shortly covering the remaining aspects of CESR draft advice.
CESR’s advice must be delivered to the European Commission by June 2005.
The deadline for consultation is 28 January 2005.
A public hearing will be held on 7 December 2004.
Press release
Document
Hearing
© CESR - Committee of European Securities Regulators
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