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Quarterly Reporting Plans For EU Companies Dropped

by Ulrika Lomas, for LawAndTax-News.com, Brussels

03 December 2003


At a meeting last week, European finance ministers rejected plans to impose a quarterly reporting requirement on companies located in the EU.

Under the amended Transparency Directive, listed firms will be required to publish audited financial statements twice a year, giving a general description of their financial position.

However, it was also decided at the Ecofin meeting that listed companies must publish more transparent reports, and that they should issue general trading statements on a quarterly basis.

The move has been welcomed by the United Kingdom, the Netherlands and Denmark, which do not require quarterly reporting. However, countries which do operate such a system will continue to do so.


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