With the deadline for listed companies to approve their financial statements fast approaching, issuers and operators have various questions before them in the face of the Covid-19 emergency. The foremost is how to reconcile the requirements under special legislation, especially regarding terms/deadlines, with the need for flexibility that issuers seek in this turbulent and uncertain time.

In response, the European Securities and Markets Authority has issued a public statement asking national authorities to adopt a generally tolerant approach to companies that publish their financial reports after the deadlines set by the Transparency Directive.

Our Capital Markets Focus Team, in collaboration with the Covid-19 Task Force, has prepared a summary of these policies. If you would like a copy, just email covid19@belex.com.