1. ESMA issued Guidelines on Alternative Performance Measures (Guidelines on APMs) aimed at promoting the usefulness and transparency of APMs included in prospectuses and/or regulated information. Adherence to the guidelines should improve the comparability, reliability and/or comprehensibility of APMs. Issuers or persons responsible for the prospectus which comply with these guidelines will provide a faithful representation of the financial information disclosed to the market.
2. The Guidelines on APMs were issued based on the Transparency Directive's objective of providing equivalent investor protection at EU level and the underlying principle of providing a true and fair view of an issuer's assets, liabilities, financial position and profit or loss pursued by the provisions. At the same time, ESMA considered that a common approach to APMs was necessary to ensure consistent, efficient and effective supervisory practices and a uniform and consistent application of the Transparency Dir
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