EUROPEAN UNION: EU Commission issues request to 5 Member States to fully transpose Transparency Directive

Friday November 18 2016

The European Commission issued a request on 17th November for IRELAND, SPAIN, PORTUGAL, ROMANIA and LATVIA to fully enact EU rules on transparency requirements for issuers admitted to trading on regulated markets

The Commission has urged Ireland, Spain, Portugal, Latvia and Romania to bring their legislation on transparency requirements on regulated markets into line with EU law. The Transparency Directive (Directive 2013/50/EU) – which amends Directive 2004/109/EC – sets out rules for issuers of securities admitted to trading on an EU-regulated market.

Member States had to enact these rules in national law by 26 November 2015. Having missed the original deadline, the Commission sent letters of formal notice to these Members in January 2016.

This most recent request takes the form of a reasoned opinion. If they fail to act within two months, they may be referred to the Court of Justice of the EU.

Please click the link at the top of the page for more information.