EU Watchdog Penalized 265 Firms In 2020 For Financial Fails

Law360, London (April 6, 2021, 4:02 PM BST) -- Europe's markets watchdog said on Tuesday that it took enforcement action against 265 companies in 2020 for failings connected to their financial statements, up from 253 in 2019.

The European Securities and Markets Authority's annual report on enforcement actions taken throughout the calendar year said the watchdog penalized 265 companies for regulatory violations over their financial reports. It took action against another 132 for problems with their nonfinancial statements, which includes areas such as environmental and human rights reporting.

"Significant challenges for business activities and a high level of uncertainty resulting from the COVID-19 pandemic require a high degree of transparency...

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