ESMA statement on extended deadlines for publishing financial statements

The European Securities and Markets Authority (ESMA) has published a statement on the coronavirus pandemic’s impact on the possibilities of listed companies to fulfil the requirements on when publication of financial statements is to occur according to the Transparency Directive. The Directive has been implemented into Swedish law through the Securities Market Act.

This text has been updated on 2020-04-20.

The statement lays forth that ESMA and the national supervisory authorities are aware that the ongoing pandemic can make it difficult for listed companies to prepare financial statements and for auditors to perform audits, which can impact the issuers' possibilities for publishing financial statements within the legislative deadlines.

National supervisory authorities are recommended to not prioritise actions against issuers that due to the coronavirus are not able to publish financial statements within the legislative deadlines assuming that the statements are published within a period specified in the statement. The expectation is that an assessment is conducted on a case-by-case basis.

Companies are also expected to inform the national supervisory authority if publication of the financial statements is not possible within the legislative deadlines. The companies are also expected to inform investors about the new schedule. The statement also emphasises that the companies are still subject to the disclosure requirements laid down in Article 17 of the Market Abuse Regulation. ESMA comments in particular that issuers must continue to inform the market as quickly as possible about any insider information that affects them directly.

FI supports ESMA's statement.

Information about late publication, the reason for the delay, and the new date are sent to: After we receive the information, we will answer shortly (within 3 business days) if we have any objections.