On 23 October 2015, the European Securities and Markets Authority ("ESMA") published an update to its Q&As on the Transparency Directive.

The update includes the insertion of new questions on, amongst others, the reporting of payments to governments at consolidated level, horizontal aggregation, changes of home member state during a transitional period, financial reporting and information, publication of sanctions and shareholder notifications.

A copy of the updated Q&As is available here: https://www.esma.europa.eu/sites/default/files/library/2015/11/esma-2015-1595_document_qas_on_td.pdf

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.