The transparency regime requires issuers whose securities are admitted to trading on a regulated market to notify major holdings, including direct and indirect holdings of financial instruments with economic effects similar to holdings of shares and entitlements to acquire shares whether or not they give a right to physical settlement. The European Commission has published a delegated regulation which sets out regulatory technical standards on major holdings under the amended Transparency Directive. The regulation will apply from 26 November 2015. A copy of the Regulation can be viewed in the Official Journal on the EU website. (PDF)

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