The State Securities and Stock Market Commission of Ukraine will oblige companies to publish quarterly information on the Internet.
The State Securities and Stock Market Commission of Ukraine will consider a draft Regulation On the disclosure of information by Securities Issuers according to which all the Issuers are obliged to publish financial reporting in the Internet on a quarterly basis. The new requirements will make the market more sensible to corporate news as a trigger for investment decisions.
Prior to this, the requirement of quarterly reporting was applicable only to the companies with State ownership, but now it will concern all Issuers. Besides this, the information will become simultaneously available to all market participants instead of first being submitted to the State Commission.
The Issuers will also be obliged to publish information which can influence the financial and economic state of the company as soon as it is known. This information includes changes of the company officials, initiation of bankruptcy proceedings, creation of branches and subsidiaries, take up of loans exceeding 25 percent of assets, and information on the change of owners having more than 10 percent of shares.
“The regular disclosure of the information by the Issuers will make the market more transparent and sensible for the corporate news,” says a spokesman for SEB.