The guide sets out the 5 key principles for putting together a more synthetic document and giving meaning to financial information.
The 5 principles are: materiality, completeness, consistency, comprehensibility and comparability.
The AMF also proposes a new presentation for registration documents, focusing more closely on the activity of the issuer and inserting references to its management report so as to limit the amount of redundant information. The AMF has also grouped together its recommendations and positions in order to enhance legibility of its doctrine. It also places the emphasis on a number of them which should be given particular attention, such as the description of activities and risk factors.
The Guide is intended for so-called “Midcaps”, meaning issuers in compartments B and C of Euronext and Alternext. The registration document is an optional document that summarises all the necessary information for stakeholders (financial analysts, investors, individual shareholders, etc.) in order to inform their judgement of the activity, financial position, results and prospects of the issuer in question. The information it contains must be adapted to the specific features of each issuer, while also remaining of relevance to the market.
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© AMF - Autorité des Marchés Financiers
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