ESMA · ESMA_QA_1878 Answer Published

Definition of APMs; Paragraph 17 of the APM Guidelines.

Regulation
Transparency Directive (TD) Directive 2004/109/EC
Topic
Alternative Performance Measures (APM)
Submitted
2017-10-30
Answered
2017-10-30
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Question

Do financial measures originally defined or specified in the applicable financial reporting framework and adjusted with the aim of isolating the effect of foreign currency on these measures qualify as APMs?

Answer

[ESMA32-51-370 APM Q12] Yes. Any adjustments to a financial measure defined or specified in the applicable financial reporting framework transform that measure in an APM in accordance with paragraph 17 of the APM Guidelines.
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