Press Release: Commission launches consultation on transparency obligations of publicly traded companies

The European Commission launched, on 17 July 2001, an open Internet consultation on the transparency obligations of issuers whose securities are traded on regulated markets. This is the first consultation set up by the Commission in accordance with the recommendations of the February 2001 report of the Lamfalussy Committee. The Committee recommended that all new legislation in the securities field should be preceded by an early, broad and systematic consultation of all interested parties in the securities area, and this was endorsed by the Stockholm European Council. The consultation document provides first indications of the views of the Commission services as to the possible structure and content of a new regime on disclosure requirements and asks for contributions from interested parties by 30 September 2001.