The Law of Corporate Finance: General Principles and EU Law: Volume III: Funding, Exit, Takeovers

192 5 Equity and Shareholders’ Capital The Directive on statutory audits^246 clarifies the duties of statutory auditors and sets ...

5.9 Listing and the Information Management Regime 193 which applies to all limited-liability companies, and the SE Regulation co ...

194 5 Equity and Shareholders’ Capital companies) or IFRS or equivalent (national GAAP such as US GAAP or Japanese GAAP). In add ...

5.9 Listing and the Information Management Regime 195 Listing on a First-tier Market According to EU securities markets law, a c ...

196 5 Equity and Shareholders’ Capital have similar requirements, because the Listing Directive is very detailed. A regulated ma ...

5.9 Listing and the Information Management Regime 197 governing access to or membership of the regulated market”.^276 Those rule ...

198 5 Equity and Shareholders’ Capital UKLA/FSA and controlled by Nomura; BOAT, a bank joint venture that merely records off-exc ...

5.9 Listing and the Information Management Regime 199 prospectus with the SEC, and the Sarbanes-Oxley Act of 2002 imposes a stri ...

200 5 Equity and Shareholders’ Capital Now there are common rules on prospectuses. Like listing rules, the prospectus rules are ...

5.9 Listing and the Information Management Regime 201 Second, the obligation to publish a prospectus does not apply to the follo ...

202 5 Equity and Shareholders’ Capital required to be published, such information must be included in the prospectus or in a sup ...

5.9 Listing and the Information Management Regime 203 Even the base prospectus for non-equity securities is important. The prosp ...

204 5 Equity and Shareholders’ Capital GAAP, Japanese GAAP, and Canadian GAAP have been mentioned in the Regulation.^319 Supplem ...

5.9 Listing and the Information Management Regime 205 5.9.4 Periodic and Ongoing Disclosure Obligations Other disclosure require ...

206 5 Equity and Shareholders’ Capital event which has occurred or may reasonably be expected to do so and if it is spe- cific e ...

5.9 Listing and the Information Management Regime 207 Major transactions that affect share price can trigger disclosure obligati ...

208 5 Equity and Shareholders’ Capital nancial reports. In addition, the disclosure of risk factors is governed by Member States ...

5.9 Listing and the Information Management Regime 209 MiFID and Directive 2006/73 provide for a risk management regime for inves ...

210 5 Equity and Shareholders’ Capital For example, it does not apply to the sale and purchase of the assets of a listed company ...

5.9 Listing and the Information Management Regime 211 insider dealing include the obligation to draw up insider lists,^371 the o ...