The purpose of this presentation is to highlight the main transparency requirements for issuers whose securities are admitted to trading on a regulated market, as resulting from the amended law of 11 January 2008 on transparency requirements for issuers as well as the corresponding Grand Ducal regulation.
The transparency requirements will be explained in light of other disclosure obligations, in particular those resulting from European legislation such as the Prospectus Directive 2003/71/EC, as amended and the Market Abuse Regulation 2014/596, the Regulation (EC) No. 1606/2002 on the application of IFRS and the Accounting Directive 2013/34/EC.
The interaction between the transparency requirements and the notification requirements deriving from the Rules and Regulations of the Luxembourg Stock Exchange will also be addressed.
The presentation will cover the following topics:
- Introduction to the law of 11 January 2008 on transparency requirements for issuers, as amended;
- General principles;
- Scope of application;
- Periodic information requirements, in particular the requirements to publish financial reports;
- On-going information requirements;
- Additional information for holders of securities;
- Interaction with stock exchange regulation;
- Supervisory powers and enforcement measures;
- Case studies.
François Warken (Partner, Capital Markets, Arendt & Medernach),
Caroline Motzer (Counsel, Capital Markets, Arendt & Medernach)
Auditors, professionnals in charge of legal departments or professionnals who wish to understand the impacts of the Transparency Law.
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