EU harmony to cost business £1.3bn
A proposal by the European Commission is likely to cost quoted companies across the EU about £1.3bn per year according to the Quoted Companies? Alliance.
The prospectus directive proposed by the commission is designed to harmonise prospectuses that companies issue when they are to be admitted into trading.
But the QCA said companies would have to issue more detailed accounts and be faced with other professional costs. It estimated costs for the UK companies alone could reach £500m.
?The directive would impose a high level ?one size-fits-all? regulatory regime that ignores the fact that the majority of companies do not raise capital outside the home country.?