City watchdog proposes OFR compliance

City watchdog proposes OFR compliance

The Financial Services Authority, in its role as UK listings authority, has proposed that all public companies comply with regulations set in the operating and financial review.

Link: Auditors left in the dark as OFR is welcomed

The FSA made this recommendation as part of its consultation paper released this week aimed at modernising and simplifying the listing rules in the UK.

In July, the DTI’s working group released a consultation document, setting out the broad principles which directors should follow in deciding what information is ‘material’ and should be included in the OFR.

It recommends that the OFR include both historic and forward-looking events and trends, including future plans, facts and events, probabilities, as well as risks and opportunities.

A final report by the working group is due to be published in December.

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