CESR seeks comments on financial information in prospectuses

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28 Jun 2004

The Committee of European Securities Regulators (CESR) has invited comments on its draft recommendations on the content of prospectuses, including both financial and non-financial information.

CESR's proposed recommendations on historical financial information cover selected financial information, operating and financial review, capital resources, profit forecasts or estimates, restatements of historical financial information, pro forma financial information, financial data not extracted from issuer's audited financial statements, interim financial information, working capital statements, and capitalisation and indebtedness. CESR notes that "the purpose of the recommendations is not to provide interpretations of IAS/IFRS or Member States' local GAAP but to clarify certain disclosure requirements included in [EU Prospectus Regulation No. 809/2004] where necessary." Comments are due 18 October 2004. Click for:

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