In December 2006 the UK Listing Authority (UKLA) published issue 14 of its newsletter List! This newsletter gave informal and non-binding guidance on the Transparency Directive. On 27 April 2007 the UKLA published an updated version of issue 14 of List! which supersedes the issue that was published last December.

It might be remembered that the Transparency Directive is one of the major measures in the European Union's Financial Services Action Plan and seeks to enhance transparency in EU capital markets through a common framework requiring:

  • Issuers to produce periodic financial reports.
  • Shareholders to disclose major shareholdings.
  • Issuers to disseminate regulated information.
  • The provision of central mechanisms for sharing regulated information.

View List! Issue No. 14 Updated - April 2007, (PDF 375KB), 27 April 2007