BusinessCompany NewsUK lobby against quarterly reporting grows

UK lobby against quarterly reporting grows

The UK lobby against European companies being forced to report on their results every quarter continues to grow, following responses received by the Financial Services Authority.

Link: ‘Halt risky quarterly reporting’

Proposals for this change to the financial reporting regime have been put forward by the European Union, but the FSA said it had received a barrage of opposition to the measure.

According to the FT many of the responses received by the City watchdog claimed implementing quarterly reporting would be expensive and inhibit disclosure, rather than improve the quality of information being communicated to investors.

Earlier this week, Peter Montagnon, head of investment affairs at the Association of British Insurers, and Pierre Bollon, director general of the Association Francaise de la Gestion Financiere, the ABI’s French counterpart, claimed that the introduction of quarterly reports would not greatly improve transparency in accounts and could cause more problems.

Quarterly reporting is standard in the US.

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