Quarterly reporting on the ropes
The chances of quarterly reporting becoming mandatory for all companies listed in the European Union have shrunk after a majority of EU member states backed UK proposals to make the proposal optional.
Alongside the UK, the Netherlands, Denmark, Austria and Italy have all opposed a move to bring European reporting requirements into line with the US, while France, Germany and Portugal all supported the measures, according to the Financial Times.
The backing for the UK’s proposals is another victory for those against quarterly reporting after a report from the European Parliament that claimed such measures were ‘not the appropriate mechanism’ for ensuring the dissemination of reliable information and ‘could represent a worsening of the situation’.
EU finance ministers meet on Tuesday to reach an agreement on the subject.