Dissenting voices on reports. Investors demanding answers, soon

The idea formulated by the Ministry of Finance about how issuers of listed securities should be allowed to move back publication of their reports risks harm to small shareholders, the Association of Private Investors warns.

A few days ago, a draft regulation by the Minister of Finance concerning definition of different deadlines for reporting and information duties was referred for consultation.

“Discharge of information duties may be especially difficult under circumstances of epidemic threat or of an outright epidemic, even the more so because some reports must first be reviewed by auditors. As a result, there now arises the need to define different deadlines for submission of specific data and/or documents by the regulated entities”, the Ministry offers in its reasoning for the draft. It is proposing to extend the deadlines for publication by market issuers of standalone and consolidated quarterly reports, annual reports, and consolidated repots by 60 days. (…)

The full text of this article is available (in Polish) in Gazeta Prawna (8.04.2020 r.). If you are interested in an English-language version, please contact: kontakt@gessel.pl