Neodyum Miknatis
amateur porn
implant
olabahis
Casino Siteleri
Kayseri escort
canli poker siteleri kolaybet meritslot
escort antalya
istanbul escort
sirinevler escort
antalya eskort bayan
Articles

Proposal for an Act to implement the amended Transparency Directive

Proposal for an Act to implement the amended Transparency Directive

Proposal for an Act to implement the amended Transparency Directive

01.07.2015 NL law

The Dutch Act to implement the amended Transparency Directive (2013/50/EU) was submitted to Dutch Parliament on 18 June 2015. The required implementation date is 26 November 2015. As a result of this proposal, various transparency obligations will be changed for issuing institutions.

Background

The Transparency Directive contains various disclosure obligations for issuers whose securities are listed on a regulated market. The amended Transparency Directive is the result of an evaluation conducted by the European Commission on the effects of the Transparency Directive on the market. It aims to simplify compliance with the transparency directive for small and medium-sized enterprises.

Amendments

The amendments cover different topics but are primarily aimed at reducing certain transparency requirements. They include:

  • Publication of quarterly statements for listed companies will no longer be required.
  • Issuing institutions will be required to make a separate annual report available to the public about payments to governments in the countries where they operate. This requirement applies to issuing institutions who are active in the oil, gas and mining industry or in the primary forest logging industry.
  • Sanctioning power of the financial supervisors is amended with respect to the directive. This translates to an increase of the maximum fine from € 4 million to € 10 million.
  • Extension of the deadline for publishing half-year financial reports from two to three months after the end of the reporting period.
  • Extension of the period during which financial reports have to be publicly available from five to ten years.
  • The definition home member state is changed to prevent the possibility of avoiding supervision by any European supervisory authority.

Practice

In practice, the amended Transparency Directive and the Dutch implementing Act thereof will lessen the administrative burdens of issuing institutions.

Related news

08.10.2020 LU law
Edouard d'Anterroches contributes to BLI's white paper on microfinance

Articles - Stibbe Luxembourg's Funds Partner Edouard d'Anterroches was amongst the few international experts asked by the Banque de Luxembourg Investments to take part in four workshops covering sustainable finance, impact investing and ESG topics. He co-authored the resulting white paper on microfinance which gathers interesting conclusions of the workshops.

Read more

30.09.2020 EU law
A digital transition in the financial services sector

Short Reads - On 24 September 2020, the European Commission (the “Commission”) adopted the Digital Finance Package (the “Package”). The aim of this initiative is to create a competitive EU financial sector that gives consumers access to innovative financial products, while ensuring consumer protection and financial stability. The package includes a digital finance strategy, a legislative framework for crypto-assets, a legislative framework for digital resilience and a retail payments strategy.

Read more

29.09.2020 NL law
Variabele rente in LMA-documentatie na de benchmarktransitie

Short Reads - Er is de laatste tijd veel te horen en te lezen geweest over de benchmarktransitie (voor een beknopte beschrijving van die transitie verwijs ik graag naar mijn artikel van 7 augustus 2020). Het artikel dat u nu leest gaat over een deelonderwerp van de benchmarktransitie, namelijk over de (verwachte) wijzigingen in de berekening van variabele rente onder de (aangepaste) LMA Recommended Form documentatie voor LIBOR-leningen.

Read more