Brussels, 24/07/2000 (Agence Europe) - The European Commission proposed to replace with a single text eight Directives enforced in the stock market sector, so as to simplify Community law and make it more transparent. Once adopted by the Council and European Parliament, this text will replace the present provisions, on the admission of securities to the official listing and the information to be published on its values, without bringing any significant changes.
Four basic Directives are covered by the codification exercise, concerning: a) the conditions for admission of securities to official stock exchange listings (79/279), b) the listings particulars to be published for the admission of securities to the official stock exchange (80/390), c) information to be published on a regular basis by companies, the shares of which have been admitted to official stock exchange listing (82/121), d) the information to be published when a major holding in a listed company is acquired or disposed of (88/627).