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Transparency Directive In force since 20 January 2007

Directive 2004/109/EC on the harmonisation of transparency requirements in relation to information about issuers whose securities are admitted to trading on a regulated market
32004L0109 · official text on EUR-Lex

Articles

Chapter I GENERAL PROVISIONS

• Article 1 — Subject matter and scope
• Article 2 — Definitions
• Article 3 — Integration of securities markets

Chapter II PERIODIC INFORMATION

• Article 4 — Annual financial reports
• Article 5 — Half-yearly financial reports
• Article 6 — Interim management statements
• Article 7 — Responsibility and liability
• Article 8 — Exemptions

Chapter III ONGOING INFORMATION

Section I Information about major holdings

• Article 9 — Notification of the acquisition or disposal of major holdings
• Article 10 — Acquisition or disposal of major proportions of voting rights
• Article 11
• Article 12 — Procedures on the notification and disclosure of major holdings
• Article 13
• Article 14
• Article 15
• Article 16 — Additional information

Section II Information for holders of securities admitted to trading on a regulated market

• Article 17 — Information requirements for issuers whose shares are admitted to trading on a regulated market
• Article 18 — Information requirements for issuers whose debt securities are admitted to trading on a regulated market

Chapter IV GENERAL OBLIGATIONS

• Article 19 — Home Member State control
• Article 20 — Languages
• Article 21 — Access to regulated information
• Article 22 — Guidelines
• Article 23 — Third countries

Chapter V COMPETENT AUTHORITIES

• Article 24 — Competent authorities and their powers
• Article 25 — Professional secrecy and cooperation between Member States
• Article 26 — Precautionary measures

Chapter VI IMPLEMENTING MEASURES

• Article 27 — Committee procedure
• Article 28 — Penalties
• Article 29 — Right of appeal

Chapter VII TRANSITIONAL AND FINAL PROVISIONS

• Article 30 — Transitional provisions
• Article 31 — Transposition
• Article 32 — Amendments
• Article 33 — Review
• Article 34 — Entry into force
• Article 35 — Addressees