The Financial Conduct Authority (FCA) has published the final rules for implementing the requirements of the EU Transparency Directive in relation to reporting payments to governments by companies in the extractive or logging of primary forest industries
The new requirements are applicable to periods beginning on or after 1 January 2015 and the report must be published within six months of the year-end.
The FCA’s requirements supplement the legislation introduced at the end of last year (the Reports on Payments to Government Regulations 2014).
They will affect relevant issuers where the UK acts as home Member State and FCA’s Disclosure Rules and Transparency Rules (DTRs) apply. They will also affect listed companies and issuers of securitised derivatives who are required by the FCA’s Listing Rules to comply with DTR4.
Details of the FCA policy statement are here: http://www.fca.org.uk/news/ps15-01-early-implementation-of-the-transparency-directives-requirements-for-reports-on-payments-to-governments
