22 May 2009, David Benyon, Operational Risk & Regulation
PARIS - The Committee of European Securities Regulators (Cesr) has issued a Frequently Asked Questions (FAQ) document for the European Union's (EU) new Transparency Directive.
Cesr says its FAQ aims to provide market participants with answers to queries presented to it since the directive (2004/109/EC) came into effect on January 20, 2007.
Topics include the inclusion of additional information in annual and biannual financial reports, class by class disclosures, netting of long and short positions, aggregation of financial instruments, responsibilities of host supervisors, and disclosure requirements to make regulated data public.
Cesr says the FAQ will be regularly updated and that its content should not be seen to bind the policy of the European Commission.
You can read the FAQ here.
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