By virtue of the amended Transparency Directive Issuers listed on regulated markets are required to prepare their annual financial reports (AFR) in an European Single Electronic Format (ESEF) from 1 January 2020.
There are two objectives behind the ESEF:
- To facilitate the submission for issuers;
- To facilitate the accessibility, analysis and comparability for investors and regulators.
To this end, ESMA launched a consultation on the regulatory technical standards pertaining to the ESEF which also explores ways forward with respect to the establishment of an ESEF.
The consultation closes on 24th December 2015, and the relevant link can be found here, whilst the link to the MFSA Circular can be found here.
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.