The ABI will today respond to the FSA’s consultation into the implementation of the Transparency Directive in the UK. The consultation covers disclosure of major holdings, periodic financial reporting and dissemination of regulated information.
Peter Montagnon, the ABI’s Director of Investment Affairs, commented on the following aspects:
Disclosure of Shareholdings
“We support a continuation of the requirement for holders of 3% of equity to disclose their position. Longer-term, we believe the FSA should widen disclosure obligations to include derivative positions. This is needed to reflect the reality of today’s market, and ensure a level playing field for the disclosure of all equity holdings.
A more complete view of all holdings will give companies and investors a better picture of who controls them and help fend off pressure for direct regulation of hedge funds and similar short term investors. It will also help maintain orderly markets.”
See full Press Release.
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