On 10 July 2014, the European Securities and Markets Authority (ESMA) published its final guidelines on the enforcement of financial information published by listed entities in the European Union. The guidelines aim to strengthen and promote greater supervisory convergence in existing enforcement practices among EU national accounting enforcers.
The guidelines provide a common approach in the following areas:
- Enforcement objectives and scope;
- The enforcement process at national level, such as selection methods, examination procedures and enforcement actions; and
- Co-ordination or enforcement activities at European level.
The guidelines will become effective two months after their publication on ESMA's website in all the official languages of the EU.