UNICE response to Commission proposal on Transparency

16 July 2003

UNICE states that certain concerns have not been adequately taken into account, notably the requirement for the disclosure of quarterly financial information. The right balance must be found to avoid imposing unrealistic obligations and administrative burdens on European companies.

UNICE is opposed to legislation which would entail mandatory quarterly financial information requirements. The mass of information released on investors and the public already partly exceeds their capacity of processing and understanding it. Imposing such requirements could have a reverse effect and lead to a lack of transparency rather than increased transparency.

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