With the January 20 debut of the European Union's long-anticipated
Transparency Obligations Directive ("TOD"), Business Wire today
announced the availability of regulatory disclosure networks in more
financial markets than any other service provider.
With 45 years of experience in helping public companies satisfy
their disclosure obligations, Business Wire has moved aggressively to
set up its own dedicated disclosure networks in Belgium, France,
Germany, Ireland, Luxembourg, The Netherlands, Sweden and the United
Kingdom. Additional regulatory networks in Austria, Czech Republic,
Denmark, and Hungary will become operational in the near future.
Business Wire is the only global newswire to commit the resources to
set up discrete networks in individual markets.
Under the leadership of Rudi DeCeuster, senior director, European
business development, Business Wire has been actively involved in
discussions with the European Commission, Committee of European
Securities Regulators, and other contributing policy-making
organizations since the TOD legislative process began in 2001.
A task force representing a cross-section of departments has been
deployed on the TOD project for the past year. Business Wire has been
officially sanctioned as a regulatory service provider by market
regulators in France (Autorite des Marches Financiers) and the United
Kingdom (Financial Services Authority) after audits confirmed
compliance with stringent technical and operational criteria.
The TOD's mandate is to create pan-European disclosure standards
among the EU's 27 Member States. Public companies listed on any EU
equities exchange are subject to the new reporting requirements. U.S.
companies whose shares are inter-listed on an EU exchange (e.g. London
Stock Exchange, Deutsche Boerse, Euronext) must also meet the
directive's disclosure standards.
Business Wire brings a unique value proposition to the marketplace
beyond its country-specific capabilities. In keeping with the spirit
and intent of the TOD, Business Wire has created a "Best Practices"
network that includes pan-European media distribution via the networks
of Agence France-Presse and The Associated Press, full-text carriage
by the leading global financial information platforms, and online
postings to leading financial portals.
"Many services are jockeying to offer EU companies basic
disclosure services," said Michael Becker, vice president, global
disclosure and financial reporting services. "Business Wire is
uniquely positioned to offer listed companies a premium solution that
is competitively priced. We are the only service provider that can
provide a seamless distribution that satisfies local disclosure
requirements, and also reach investors and consumers throughout North
America, Asia-Pacific, Latin America, the Middle East and Africa via
our comprehensive global news distribution networks."
About Business Wire
Business Wire, a Berkshire Hathaway company, is utilized by
thousands of member companies and organizations to transmit their
full-text news releases, regulatory filings, photos and other
multimedia content to journalists, news media, trade publications,
institutional and individual investors, financial information
services, regulatory authorities, Internet portals, information web
sites, business-to-business decision-makers and consumers worldwide.
With a news distribution network spanning 150 countries and 45
languages, Business Wire's multi-channel delivery network, has access
to some 60 international and national news agency networks
throughout the Americas, Europe, Asia, the Middle East and Africa.
The Business Wire news network is powered by its patented
NX high-speed data platform and supports XML, XHTML and XBRL code to
deliver the most sophisticated news file to enhance news release
interactivity, customization and search engine optimization. Business
Wire has 30 bureaus in cities including New York, San Francisco, Los
Angeles, Chicago, Boston, Miami, Paris, Frankfurt, London, Brussels,
Tokyo and Sydney with reciprocal offices throughout the world.
Business Wire was founded in 1961 by Chairman Lorry I. Lokey, veteran
journalist and public relations executive. Cathy Baron Tamraz is
president and CEO.
