Deloitte comment letter on FCA consultation CP14/17
We have published our comment letter on the FCA's proposals for early implementation of the EU Transparency Directive's requirements for reports on payments to governments. We are broadly supportive of the FCA’s proposals. Our key concern is that, in view of the fact that FCA proposes that the requirements apply to accounting periods commencing on or after 1 January 2015, we believe the FCA needs to draw their rules to the attention of those companies most likely to be affected.
Whilst UK companies may already be aware of the BIS proposals in this area, companies incorporated outside the UK but with securities (debt or equity) admitted to trading on the Main Market of the London Stock Exchange may not be aware of the FCA’s plan for early adoption.
