Business Wire Builds Regulatory Disclosure Networks Across Europe


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Business Wire Builds Regulatory Disclosure Networks Across Europe

Cathy Baron Tamraz
President
Business Wire

Positioning itself for the pending introduction of pan-European disclosure standards, Business Wire has announced its capability of satisfying statutory disclosure requirements in France, Sweden, Switzerland and Luxembourg, confirming the company's status as the world's leading regulatory disclosure service.

After playing a leadership role in the consultation process leading to the adoption of the European Union's Transparency Obligations Directive (TOD), Business Wire has moved swiftly to set up its own proprietary disclosure networks in Europe's key financial centers. Implementation of the TOD -- which mandates harmonized disclosure regulations among all 25 EU Member States -- is scheduled for 2007.

Business Wire's networks are in accordance with the criteria set forth by the Continent's leading market regulators and exchanges, including: AMF in France, OMX in Sweden, and SWX in Switzerland, among others.

A Dutch disclosure network for companies traded on the Amsterdam Exchange (Euronext) is scheduled to launch in October.

Business Wire has served as an official Regulatory Information Service in the United Kingdom, sanctioned by the Financial Services Authority, since the regulatory news marketplace was opened to competition in 2002.

The company also operates a German Ad Hoc service for companies listed on the Deutsche Boerse, meeting the standards established by Germany's financial markets regulator (BaFin).

In the United States, Business Wire has facilitated disclosure for U.S. companies for more than four decades. The company can assist clients in meeting their disclosure obligations in other markets via its worldwide affiliate relationships. "Helping public companies meet disclosure is our core business. We offer more in-house services in more markets worldwide than anyone," said Cathy Baron Tamraz, president, in making the announcement. "Business Wire will continue to move aggressively to build upon its franchise in financial markets in Europe, Asia, and elsewhere.

Global markets are increasingly recognizing the importance of corporate transparency and real-time information access. These trends bode well for Business Wire's continued growth and leadership in this important arena."

Business Wire was founded in 1961 by chairman/CEO Lorry I. Lokey, veteran journalist and public relations executive. The company's multi-channel delivery network, with access to some 60 international and national news agencies, financial information providers and Web-based news services throughout North America, Europe, Asia, Latin America, the Middle East and Africa, provides real-time, simultaneous access to key audiences -- the news media, trade publications, institutional and individual investors, business-to-business decision-makers and consumers.

Business Wire electronically disseminates some 1,000 full-text news releases daily to the media, the Internet, online services and databases, and the global investment community in 150 countries in 45 languages. Business Wire has 24 U.S. offices, Frankfurt, London, Brussels, Paris, Sydney and Tokyo offices, and reciprocal offices throughout the world.

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