Greece regulatory round-up: April 2016

A draft law tabled to the Greek parliament seeks to abolish the preparation of quarterly and nine-monthly financial statements for listed companies.

As the negotiations between the Greek government and Troika continue, it feels as though we move one step forward and two steps back. Just as an agreement appears imminent, a new issue pops up. Be it the ongoing refugee crisis, related to debt relief or leaked documents, it poses a new challenge and we see negotiations reset.

In the middle of the latest odyssey a new draft law has been tabled to parliament mentioning that the preparation of quarterly and nine-monthly financial statements for listed companies will be abolished. However, the obligation to prepare financial statements every six months remains.

The draft law also gives the Hellenic Capital Market Commission the ability not to publish detailed information related to penalties and fines imposed on listed entities, for the benefit of the Greek stock market.

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