{"id":8596,"date":"2016-04-05T18:18:41","date_gmt":"2016-04-05T16:18:41","guid":{"rendered":"https:\/\/www.fma.gv.at\/en\/?page_id=8596"},"modified":"2025-06-20T12:02:59","modified_gmt":"2025-06-20T10:02:59","slug":"disclosure-requirements","status":"publish","type":"page","link":"https:\/\/www.fma.gv.at\/en\/capital-markets\/supervision-of-issuers\/disclosure-requirements\/","title":{"rendered":"Transparency Requirements"},"content":{"rendered":"<?xml encoding=\"utf-8\" ?><p>The disclosure provisions for stock-exchanged listed companies contribute towards ensuring that market participants have information about issuers of securities available at their disposal without delay and at the same time as one another.<\/p><p>The transparency achieved as a result permits the market participants to make a well-founded assessment about companies and also strengthens investor confidence. Transparency leads to &ldquo;fair&rdquo; prices, i.e. prices that are not skewed by imbalances in available information, a lack of information or as a result of circulating rumours, and therefore to an efficient pricing.<\/p><p>What disclosure obligations apply to <a href=\"https:\/\/www.fma.gv.at\/en\/glossary\/issuers\/\">issuers<\/a>, depends on which markets their financial instruments are admitted to trade on.<\/p><h2>Issuers on regulated markets<\/h2><p>Issuers, whose securities are admitted to be traded on a regulated market, are required to disclose &ldquo;regulated information&rdquo; as defined in <a href=\"https:\/\/www.wienerborse.at\/uploads\/u\/cms\/files\/legal\/stock-exchange-act.pdf\" class=\"external\" target=\"_blank\" rel=\"noopener\">Article&nbsp;118 para.&nbsp;1 no.&nbsp;9 in conjunction with Article&nbsp;1 no.&nbsp;22 B&ouml;rseG 2018<\/a>. The regulated market in Austria is currently the Official Market of Wiener B&ouml;rse AG. Regulated information includes the following types of information:<\/p><ul>\n<li>Publication of insider information<\/li>\n<li>Directors&rsquo; dealings<\/li>\n<li>Financial reports<\/li>\n<li>Changes to significant holdings<\/li>\n<\/ul><p>Regulated information is required to be disclosed throughout the EU and is to be submitted to the <abbr title=\"Oesterreichische Kontrollbank\">OeKB<\/abbr> &lsquo;s Issuer Info Service Center. Published regulated information can be consulted online at the (<a href=\"http:\/\/issuerinfo.oekb.at\/startpage.html\" class=\"external\" target=\"_blank\" rel=\"noopener\">IssuerInformationCenter.Austria<\/a>). Disclosures about insider information are also required to be published on the issuer&rsquo;s website, and to be displayed there for a period of at least five years.<\/p><h2>Issuers on multilateral or other trading facilities (MTFs \/ OTFs)<\/h2><p>The disclosure obligation regarding insider information and Directors&rsquo; Dealings (<a href=\"https:\/\/eur-lex.europa.eu\/eli\/reg\/2014\/596\" class=\"external\" target=\"_blank\" rel=\"noopener\">Articles 17 and 19 MAR<\/a>) also applies to issuers that applied to or have received or have agreed to an authorisation for admission to trading on a multilateral trading facility (<abbr title=\"multilateral trading facility\">MTF<\/abbr> ). Furthermore this also applies to issuers that have received or have agreed to authorisation for admission to trading on an organised trading facility (<abbr title=\"organised trading facility\">OTF<\/abbr> ).<\/p><h3>Contact Details<\/h3><p>Austrian Financial Market Authority (FMA)<br>\nDivision III\/4 &ndash; Issuer Supervision<br>\n<a href=\"mailto:marktaufsicht@fma.gv.at\">marktaufsicht@fma.gv.at<\/a><\/p><p>\n<div id=\"reference-6a384514361b9\" class=\"reference\"><h3 class=\"reference-heading\"><span class=\"fa-solid fa-circle-info fa-fw\" aria-hidden=\"true\"><\/span>Further information<\/h3><p><\/p><p><strong>Issuers Forum &ndash; 14 October 2022:<\/strong><\/p><p>\n<a href=\"\/wp-content\/plugins\/dw-fma\/download.php?d=6012&nonce=b451b8fad10519d3\" class=\"internal single-document-reference piwik_download\">Emittenten-Forum (<span class=\"sr-only\">Format: <\/span>pdf, <span class=\"sr-only\">Size: <\/span>1,3 MB, <span class=\"sr-only\">Language: <\/span>German)<\/a>\n<\/p><p><strong>Aktienforum-Gespr&auml;chsrunde &ndash; 16 July 2018:<\/strong><\/p><p>\n<a href=\"\/wp-content\/plugins\/dw-fma\/download.php?d=3678&nonce=c4a62000fe4700fd\" class=\"internal single-document-reference piwik_download\">Aktienforum - Gespr\u00e4chsrunde_16.07.2018 (<span class=\"sr-only\">Format: <\/span>pdf, <span class=\"sr-only\">Size: <\/span>275,2 KB, <span class=\"sr-only\">Language: <\/span>German)<\/a>\n<\/p><p><strong>MAR Forum &ndash; 27 June 2017:<\/strong><\/p><p>\n<a href=\"\/wp-content\/plugins\/dw-fma\/download.php?d=2914&nonce=fce9ebbaf2c166ff\" class=\"internal single-document-reference piwik_download\">MAR Forum Teil 1 (<span class=\"sr-only\">Format: <\/span>pdf, <span class=\"sr-only\">Size: <\/span>619,8 KB, <span class=\"sr-only\">Language: <\/span>German)<\/a>\n<a href=\"\/wp-content\/plugins\/dw-fma\/download.php?d=2915&nonce=b1ff23444b4c62c2\" class=\"internal single-document-reference piwik_download\">MAR Forum Teil 2 (<span class=\"sr-only\">Format: <\/span>pdf, <span class=\"sr-only\">Size: <\/span>691,2 KB, <span class=\"sr-only\">Language: <\/span>German)<\/a>\n<a href=\"\/wp-content\/plugins\/dw-fma\/download.php?d=2999&nonce=c01558b0494920ae\" class=\"internal single-document-reference piwik_download\">Anerkenntnis nach Art. 18 Abs. 2 MAR (<span class=\"sr-only\">Format: <\/span>pdf, <span class=\"sr-only\">Size: <\/span>89,3 KB, <span class=\"sr-only\">Language: <\/span>German)<\/a>\n<\/div><p>\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The disclosure provisions for stock-exchanged listed companies contribute towards ensuring that market participants have information about issuers of securities available &#8230;<\/p>\n","protected":false},"author":10,"featured_media":0,"parent":1181654,"menu_order":2,"comment_status":"closed","ping_status":"closed","template":"","meta":{"inline_featured_image":false,"footnotes":""},"class_list":["post-8596","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - 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