RELEASE OF A NEW AND UPDATED VERSION OF "FINANCIAL COMMUNICATION:
FRAMEWORK AND PRACTICES">
RELEASE OF A NEW AND UPDATED VERSION OF "FINANCIAL COMMUNICATION: FRAMEWORK AND PRACTICES"
(Thomson Reuters ONE) - One year after the original launch of its reference guide "FinancialCommunication: Framework and Practices", the Observatoire de laCommunication Financière ("OCF") has published a 2009 online editionenriched and updated with the latest regulatory developments. The newedition will be presented today by the members of the OCF during its"Economic crisis: impacts on financial communication" workshop heldat the Pavillon d'Armenonville as part of the Paris Europlaceinternational forum.Updated by its authors - all professionals and experts in theirrespective fields - the guide continues in its original aim ofhelping issuers, financial communication professionals and executivemanagement to find their way around the new regulations for listedcompanies, by describing habitual practices on given subjects.Eliane Rouyer-Chevalier, Chairwoman of the OCF and of CLIFF, noted:"The launch of this new edition demonstrates the OCF's ambition to beever closer to the concerns of management and investor relationsprofessionals of listed entities and to work together with them onfinancial communication issues by offering a practical, up-to-dateguide."The new version of the guide has retained its familiar three-partformat:- "General Principles of Financial Communication" sets out the mainvalues governing issuers' financial communication policies;- "Framework for Financial Communication" gives a practicalpresentation of events and situations in the life of a listed companythat require communication;- "Financial Communication Practices" describes the InvestorRelations function and how it connects with the rest of the financialcommunity.The 2009 edition includes both updates and new sections.The updates concern regulatory changes introduced in 2008-2009 thathave given rise to additions and modifications on matters such as:- the reform of public offerings;- the establishment of audit committees;- new measures concerning the compensation of corporate officers;- developments in periodic and permanent disclosure requirements, inparticular the alleviation of "BALO" publications and changes toregulations governing thresholds and share buyback disclosures.According to its authors, the new guide "continues in the vein ofproviding useful reference points for investor relationsprofessionals. It is more than just a list of new obligations; theguide aims to make sense of regulatory changes and understand theirimpacts on financial communication."The 2009 edition also includes two main new features.The first concerns a new appendix dedicated to reference documentsaimed at assisting issuers in their preparation. It discusses anumber of considerations related to the structure of the referencedocument and how it interacts with the entity's other annualpublications, such as the annual financial report, management report,shareholder meeting documentation and corporate brochures.The second feature enhances the practical and interactive feel of theelectronic French and English versions, with examples of pressreleases for the various communication situations identified in PartII of the guide.The "Glossary of Financial Communication Terms" (in French only)which was published in 2005, is currently being updated to includethe latest changes to regulations and terminology habitually used bymanagement and financial communication professionals.In keeping with the founding spirit of the OCF, the new version ofthe guide will be made available to listed companies free of chargeon www.observatoirecomfi.com, as well as on the OCF members'websites. The "Glossary of Financial Communication Terms" is due tobe released in September 2009.Press contacts:Marie-Alix Delort: +33 (0) 6 20 42 09 48madelort(at)cliff.asso.frEmmanuelle Térouanne: +33 (0) 1 56 57 81 81emmanuelle.terouanne(at)fr.pwc.comThe OCFwww.observatoirecomfi.comThe Observatoire de la Communication Financière was founded in 2005to promote best practices in financial communication and toparticipate actively in enhancing the Paris Stock Exchange'sreputation. It comprises representatives of Bredin Prat, CLIFF(French Investor Relations Association), PricewaterhouseCoopers andthe SFAF (French Society of Financial Analysts). The OCF enjoys thesupport of NYSE Euronext and since its creation has capitalized onthe expertise and complementarity of its members, working towardsthree corresponding goals:- observing and analyzing developments in the sphere of financialcommunication: this has given rise to the publication of severalresearch studies and surveys (Impact of the Transfer to IFRS, TheStakes of the Transparency Directive, Analysis of the Press Releasesof the SBF120 companies, etc.);- bringing together the opinions of issuers and the market, followingthe example of the 2006 OCF Forum on the topic of "Stakes and Risksof the New Transparency Measures", a "Financial CommunicationPractices" workshop organized in July 2007 as part of the ParisEuroplace international forum;- assisting issuers, by organizing workshops and debates (ComparablesModel, AMF General Regulations, Cash Flow Statement, etc.) and bypublishing reference books ("Glossary of Financial CommunicationTerms", "Financial Communication: Framework and Practices").Bredin PratContacts: Didier Martin, Patrick Dziewolski - www.bredinprat.comBredin Prat has more than ninety French, English and American lawyersand focuses on specific aspects of corporate law. It has a strong M&Apractice and also advises on securities law issues. It also hasrenowned expertise in French and European competition law, tax,financing and related litigation.CLIFFContacts: Eliane Rouyer-Chevalier, Christopher Hollis -www.cliff.asso.frCLIFF, the French Investor Relations Association, was founded in 1987and is essentially concerned by issues in connection with financialcommunication. Its more than 100-strong membership comprisescompanies accounting for over 80% of the Paris stock exchange'smarket value. CLIFF's aim is to contribute to the improvement offinancial communication and shareholder relations, in particular:- to foster knowledge-sharing among members by providing a forum inwhich to exchange ideas and pool experience;- to pass on the viewpoints of issuers and, as a respected partner,to make recommendations to financial market players and regulatorybodies on issues concerning the organization, dissemination andethics of financial communication.PricewaterhouseCoopersContacts: Philippe Kubisa, Claude Lopater - www.pwc.frPricewaterhouseCoopers provides audit, consulting and accountancyservices to companies and organizations in both the public andprivate spheres, using a sector-based approach to ensure confidenceand added-value for its clients and all stakeholders.The network comprises more than 155,000 people working in 153countries, sharing points of view, experience and solutions topropose innovative perspectives and advice adapted to each situation.In France, PwC works in cooperation with Landwell, a law firm andmember of the PricewaterhouseCoopers network.PricewaterhouseCoopers is made up of legally autonomous andindependent entities that are members of the PricewaterhouseCoopersInternational Limited network, and comprises 3,800 people in 25offices throughout FranceSFAFContacts: Patrick Leguil, Bruno Beauvois - www.sfaf.comFor more than forty years, the SFAF, the French Society of FinancialAnalysts - bringing together investment and finance professionals -has been working to improve financial analysis techniques and develophigh-quality financial communication.The SFAF accompanies the development of these activities and theevolution from traditional to modern activities (Mergers, SociallyResponsible Investment, risks, credit, independent Financial Advice,etc.).Through its essential financial agenda, the SFAF also accompaniesissuers in organizing their financial meetings and is alsowell-represented with the market authorities. It takes part indebates regarding the improvement of the quality of financialinformation and the development of the role of financial analysts,and represents the profession within national, European andinternational institutions.Through its training centre, the SFAF plays a key role in traininghigh-level finance professionals. In particular, it offers twointernationally-recognized training courses granting respectively theCIIA and CIWM diplomas.This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
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Datum: 02.07.2009 - 05:46 Uhr
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