Financial Information

Article 6 Quarterly financial information 1 .

FINANCIAL INTEGRATION Retail payments market remains fragmented Eurosystem has acted as catalyst for reform

it may carry out any other financial operation linked with its objectives.

Security issuers will have to meet the requirements on annual financial reporting within a given deadline of three months , on interim financial reporting ( half yearly financial report and quarterly financial information ) within a deadline of two months .

Monthly and quarterly financial information of the Eurosystem

BSC report on international financial reporting standards and financial stability

ECB Guideline on accounting and financial reporting

4 Monthly and quarterly financial information of the Eurosystem

ECB Guideline on accounting and financial reporting

ECB Guideline on accounting and financial reporting

The quarterly financial information does not need to comply with IAS 34 .

Its objectives are To improve annual financial reporting by security issuers through disclosure of an annual financial report within three months ( see Section 4.2 )

Warn me when I visit a site that uses my financial or purchase information

Overall , the information campaign fulfilled its objectives extremely well .

This section of the Legislative Financial Statement should include the following specific complementary information 5.1 .

Instead , quarterly financial information should provide key historical data on the issuer 's performance .

Monthly and quarterly financial information of the Eurosystem Consolidated annual balance sheet of the Eurosystem

and by providing central bank services that foster financial integration Table 1 Key Eurosystem activities for financial integration Subject Main objectives and state of play

This also includes requirements to provide quarterly financial information given that US stock markets

For more information about the project and all 19 targets, visit www.post2015consensus.com

Article 6 Quarterly financial information See the general explanations given under Section 4.3.1 .

At a more fundamental level, only patchy data is available in general on employee financial participation.

Objectives of the current initiative The proposed directive envisages to impose a level of transparency and information commensurate with the aims of sound investor protection and market efficiency .

However , the timing for publishing annual financial information differs from Member State to Member State .

In the United States , debt security issuers are even subject to quarterly financial reporting requirements .

4. Notes with appreciation the cooperation of the Department of Public Information of the Secretariat and its information centres in pursuit of the objectives of the Programme

5. Notes with appreciation the cooperation of the Department of Public Information of the Secretariat and its information centres in pursuit of the objectives of the Programme

the European System of Central Banks ( 3 ) needs to be amended in order to reflect these policy developments ,

The same issuer shall ensure that the quarterly financial information remains available to the public .

The maximum publication deadline for such a quarterly financial information should at this stage not go beyond two months .

There has been a marked trend at international level and in the majority of the Member States to move to a quarterly frequency , but the reporting standards for such quarterly information differ . A first important step should be made to make quarterly financial information mandatory for the first and third quarter of a financial year .

4. Notes with appreciation the cooperation of the Department of Public Information of the Secretariat and its information centres in pursuit of the objectives of the Programme

Price stability should be accompanied by other targets, especially financial stability, but also, possibly, employment.

Such information provides a reliable insight into the financial situation and health of a publicly traded company .

Only half yearly financial reporting for issuers of securities other than shares Issuers of only debt securities are not subject to any interim reporting under existing Community Law .

Correspondingly , the non euro area Member States present convergence programmes providing comparable information to that contained in the stability programmes , as well as information on medium term monetary policy objectives .

See Vision for more information on the aims of the new premises and the requirements they have to fulfil .

It feels that half yearly financial reporting for debt security issuers would adequately reflect the risk profile of such securities .

For instance , an auditor will control the financial situation of the issuer but not the programme . It is doubtful that law firms and dealers could be considered as controlling financial information .

Member States publish abundant information on their financial situation which is in general available in the public domain .

Information on other financial intermediaries and financial auxiliaries will be useful for compilers of national accounts and related statistics .

Finally , investors investing in several Member States should benefit from more reliable and standardised financial information cycles instead of solely relying on ad hoc disclosure issued by companies .

The present Directive should not provide for a scrutiny of the contents of financial information to be disclosed , but at least a minimum guarantee for the timely availability of such information .

Since the start , one key objective of the Eurosystem has been to enhance the functioning of its financial markets , i.e. , to foster European financial integration .