FINANCIAL COMMUNICATION: FRAMEWORK AND PRACTICES - 2019 EDITION

SEITOSEI - +33 (0)1 78 94 87 30 Financial communication is a vital component of market transparency and constitutes a key element for investor confidence and the credibility and quality of a financial marketplace as a whole. The framework of financial communication by issuers changes every year and the regulation is very heterogeneous: some aspects of an issuer’s financial communication are defined by very precise rules, while other aspects are covered by the application of broad principles that may be interpreted under the responsibility of the issuer. The increased transparency required in the financial markets and the increasing complexity of regulatory constraints, imposing information burdens upon issuers, have led the largest listed companies to structure their financial and non-financial information into specialised departments, whose responsibilities have been broadening incessantly in recent years and whose functions are continually evolving. Under these conditions, it has become important that every person who participates in the preparation of an issuer’s financial communication has a guide listing market practices. This “Financial Communication: Framework and Practices” guide has been designed principally as an informative tool for senior management and the persons in charge of financial communication within listed companies. This guide was prepared by: 53, Quai d'Orsay 75007 Paris, France Tel.: +33 (0)1 44 35 35 35 www.bredinprat.fr Tour Praetorium La Défense 14, Place des Reflets 92400 Courbevoie, France Tel.: +33 (0)1 47 76 05 70 www.cliff.asso.fr 63, rue de Villiers 92200 Neuilly-sur-seine, France Tel.: +33 (0)1 56 57 58 59 www.pwc.fr