ESMA has published its Final Guidelines on Alternative Performance Measures (APMs) for listed issuers. The final guidelines set out the principles that issuers should follow when presenting APMs in documents which qualify as regulated information and address their labelling, calculation, presentation and comparability. The guidelines will apply to issuers with securities traded on regulated markets, and persons responsible for drawing up a prospectus. They will be supervised by competent authorities and other bodies in the EU with responsibilities under the Transparency Directive, Prospectus Directive or Market Abuse Regulation. The proposed guidelines are aligned with other regulations and guidance issued by securities regulators in the United States, Australia and Canada on this matter. In order to enable sufficient time for issuers to prepare for applying these guidelines and to align their application with the entry into force of the new Market Abuse Regulation, the guidelines are effective from 3 July 2016.