ESMA · ESMA_QA_2039 Answer Published

Additional periodic information (including quarterly reports); TD Art 3

Regulation
Transparency Directive (TD) Directive 2004/109/EC
Topic
Transparency
Submitted
2015-10-23
Answered
2015-10-23
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Question

Could additional periodic financial information (including quarterly reports) published on a voluntary basis be considered as regulated information?

Answer

[ESMA31-67-127 TD Q23]   Issuers may publish additional periodic financial information (including quarterly reports) on a voluntary basis as well as in other instances such as when resulting from market practice in the absence of national legal obligations or when requested by regulated markets in the absence of national legal obligation.  Publication of additional periodic financial information (including quarterly reports) stemming from those situations should not be regarded per se as regulated information according to the Transparency Directive. However, the issuer shall assess whether the disclosed information falls under the definition of inside information according to Article 7 of Market Abuse Regulation (MAR). In such a case, additional periodic financial information (including quarterly reports) should be also treated as regulated information under Article 17 of MAR.
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This Q&A is published by European Securities and Markets Authority and is non-binding. It does not constitute legal advice. Updated weekly from official ESA sources.

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