European Union:
Financial Reporting Council: Frequently Asked Questions On ESMA Guidelines On Alternative Performance Measures
05 August 2016
Shearman & Sterling LLP
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In June 2015, ESMA published Guidelines on Alternative
Performance Measures (the "Guidelines") which replace the
Recommendation on Alternative Performance Measures issued by the
Committee of European Securities Regulators in October 2005. The
Guidelines apply to relevant communications released on or after 3
July 2016 by issuers of securities on a regulated market and to
preparers of prospectuses.
On 25 May 2016, the FRC issued a response paper dealing with
some frequently asked questions to assist directors in their
consideration of the Guidelines.
The Guidelines can be accessed here:
https://www.esma.europa.eu/sites/default/files/library/2015/11/2015-esma-1057_final_report_on_guidelines_on_alternative_performance_measures.pdf
The FCR's FAQs can be accessed here:
https://www.frc.org.uk/Our-Work/Publications/Accounting-and-Reporting-Policy/FAQs-ESMA-Guidelines-on-Alternative-Performance-M.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.
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