Unanimous rejection of quarterly reporting
Every chief executive of a group of smaller listed companies polled in a survey this week are against EU plans to require publicly traded companies to report on a quarterly basis.
The findings from a survey of 100 chief executives will add force to the arguments of a mounting number of UK executives who are against the EU proposals.
John Pierce, chief executive of the Quoted Companies Alliance, which represents listed companies outside the FTSE 350, said: ‘Our survey shows the issues our SCQ members feel most strongly about are quarterly reporting, the EU prospectus directive, stamp duty, treatment of share options and red tape in general. There is also a significant majority who believe that SQCs do not receive support both from the LSE and the government.’
Other findings revealed a meagre 7% of respondents were supportive of plans to make companies book share options as an expense in the accounts.