Transparency Requirements for Securities Issuers Directive
Proposal for a DIRECTIVE OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL on the harmonisation of transparency requirements with regard to information about issuers whose securities are admitted to trading on a regulated market and amending Directive 2001/34/EC
- Stage
- In force, reached 31 Dec 2004
- In force
- In force since 20 Jan 2005 · CELEX 32004L0109
- Transposition deadline
- 20 Jan 2007
- Procedure
- Directive · Ordinary legislative procedure
- Rapporteur
- Peter Skinner (PSE)
- Last activity
- 18 Aug 2026
Where it stands
Latest: Delegated act published: Regulatory Technical Standards - access to regulated information, 18 Aug 2026.
- 30 Mar 2004
- EP position at first reading
- 15 Dec 2004
- Signature by the president of the EP and by the president of the Council
- 31 Dec 2004
- Publication in the Official Journal
- 18 Aug 2026
- Delegated act published: Regulatory Technical Standards - access to regulated information
Who is on it
The Parliament's rapporteurs, shadow rapporteurs and opinion rapporteurs currently on this file.
| Role | Name | Group | Country | Committee |
|---|---|---|---|---|
| Rapporteur | Peter Skinner | PSE | GB | ECON |
| Rapporteur for opinion | Klaus-Heiner Lehne | PPE-DE | DE | JURI |
Delegated and implementing acts beneath it
By status: 10 published.
| Act | Kind | Status | Adoption |
|---|---|---|---|
| Commission Delegated Regulation (EU) 2026/971 | Delegated · Regulation | Published | Q2 2026 |
| Commission Delegated Regulation (EU) 2026/283 | Delegated · Regulation | Published | Q4 2025 |
| Commission Delegated Regulation (EU) 2025/19 | Delegated · Regulation | Published | 10/2023 |
| Commission Delegated Regulation (EU) 2022/2553 | Delegated · Regulation | Published | 10/2022 |
| Commission Delegated Regulation (EU) 2022/352 | Delegated · Regulation | Published | Q4 2021 |
| Commission Delegated Regulation (EU) 2020/1989 | Delegated · Regulation | Published | Q4 2020 |
| Commission Delegated Regulation (EU) 2019/2100 | Delegated · Regulation | Published | 10/2019 |
| Commission Delegated Regulation (EU) 2019/815 | Delegated · Regulation | Published | Q3 2018 |
| Commission Delegated Regulation (EU) 2016/1437 | Delegated · Regulation | Published | 19/05/2016 |
| Commission Delegated Regulation (EU) 2015/761 | Delegated · Regulation | Published | 17/12/2014 |
Titles link to EUR-Lex where the act has been published.
Documents
Newest first. Each opens at its source.
- Text adopted · 32007L0014Commission
- Report · A5-0079/2004Parliament
- Proposal · COM(2003)0138Commission
- Proposal · COM(2010)0243Commission
- Proposal · COM(2015)0655Commission
- Text adopted · Directive 2004/0109Commission
- OJ C 242 09.10.2003, p. 0006-0010Commission
- Text adopted · OJ L 069 09.03.2007, p. 0027Commission
- Text adopted · OJ L 390 31.12.2004, p. 0038-0057Commission
- SEC(2008)3033Commission
- SEC(2010)0611Commission
- SEC(2011)0991Commission
- Text adopted · T5-0220/2004Parliament
Summary
GeneratedDirective 2004/109/EC sets harmonized transparency rules for issuers on EU regulated markets, covering annual and half-yearly reports, major holdings notifications, and sanctions. In force since 2007, it applies to issuers of shares or debt securities, with exemptions for states, central banks, and high-denomination debt.
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Sources: EP Legislative Observatory · EU Law Tracker · EUR-Lex. Record as of 14 Sept 2026. Something wrong on this page? Report an error.
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