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PR Newswire's disclosure service is compliant with the Transparency Obligations Directive, which began implementation on 20th January 2007. TOD is part of a series of measures passed by the European Commission designed to establish a level playing field in the European financial services markets and brings numerous changes for listed companies in areas such as the timing and content of annual and interim reports and the disclosure of major shareholdings by investors. Specifically, TOD is focused on ensuring that issuers meet certain minimum standards of disclosure when disseminating price-sensitive news and information. Paramount to this mandate is that information be disseminated throughout the European Union in a manner that supports simultaneous delivery, thereby providing institutional and retail investors, the media and the general public equal access to material news the moment it is announced. As the only corporate news distributor on the Committee of European Securities Regulators (CESR) Consultative Working Group on the Transparency Obligations Directive (TOD), PR Newswire has played a critical role in shaping the EU’s directive. With limited guidance from regulators as to the requirements of TOD in some member states, listed companies may find it difficult to determine what is needed to comply. To assist with this, PR Newswire has took the lead in developing its TOD Wire, which includes dedicated links to the major equity terminals, key European financial websites and newspapers in all 27 EU member countries. This extensive network will help ensure customer compliance and enhanced coverage of time sensitive and business critical news, and further strengthens PR Newswire’s global position as the market leader in the investor relations and media communications industries.
Terms and conditions of use apply. |
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