Question 8: Interim financial statements; Paragraph 31 and 32 of the APMs Guidelines.

Date last updated: July 2017

Questions: Does paragraph 31 of the APMs Guidelines apply to quarterly financial figures included in ad-hoc disclosures published by issuers in accordance with article 17 of MAR when there is no requirement under the Transparency Directive (TD) to publish interim financial statements (e.g. quarterly financial statements)?

How should issuers comply with paragraphs 31 and 32 of the APMs Guidelines?

Answer: Yes. Paragraph 31 of the APMs Guidelines applies to APMs related to quarterly financial figures included in ad-hoc disclosures published in accordance with article 17 of MAR even when the issuer is not required to publish quarterly financial statements in accordance with the TD. Please refer to question 4.

The following example illustrates how issuers may comply with provisions included in paragraph 31 and 32 of the APMs Guidelines: