On 7 November 2014 the Financial Conduct Authority (FCA) in the UK published a policy statement, PS14/15, outlining its decision to remove the requirement for issuers of shares admitted to trading on a regulated market to publish interim management statements.

From 7 November 2014, the requirement in the UK Disclosure and Transparency Rules (DTRs) to publish interim management statements will be removed. The change will affect issuers of shares admitted to trading on a regulated market where the UK acts as home Member State and the FCA’s DTRs apply. After this date, issuers may continue to publish interim management statements (or quarterly financial reports on a voluntary basis, if they so choose.

The Transparency Directive Amending Directive (2013/50/EU) removes the requirement to publish interim management statements across all Member States from November 2015.