Author: Lucy Reeve

Listed companies reminded not to pre-brief analysts with inside information

The European Securities and Markets Authority has reminded issuers that they may not share inside information with analysts before releasing financial results to the market. Any analyst briefings ahead of interim or full year results announcements (known as “pre-close calls”) must be limited to sharing information that is not inside information. Otherwise, the issuer could be unlawfully disclosing inside information in breach of the Market Abuse Regulation and the analysts would become subject to the restrictions on insider dealing and unlawful disclosure.