The transparency directive
Since the 1990-s the Member States of the European Union have been looking for the way of keeping Europe competitive against the economic potentials of other regions and nations. Besides the continuous enlargement the need for competitiveness made it indispensable that the national markets of different traditions and cultures and of different size become unified to a certain extent. The provisions stipulated in the directives are continuously adapted to the law of the Member States.
The purpose of the Transparency Directive Implementation law is that the citizens of the European Union can make their decisions having the same information on an investment regardless which Member State they live in. In practice it means that issuers submit their announcements to the electronic and printed media and the news agencies of all the Member States, while archiving of information shall be provided by the European level connection of the national data storage systems.
In Hungary in compliance with the modified Capital Market law all the public security issuers will have to publish the information influencing the judgement and exchange rate of their securities in all the European Union Member States, without delay, simultaneously, and with the same content.
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