BSE to introduce a similar reporting system to one used on American SE

The Bucharest Stock Exchange (BSE) plans to introduce a reporting system similar to the EDGAR system, used on the US stock exchanges, according to Stere Farmache, chairman and CEO of the BSE. The standardised reporting system EDGAR is a database that grants public access to the financial statements of listed companies and offers investors complete and comparable data on issuers. Currently, BSE-listed companies send periodic financial reports to the market’s institutions, but BSE website offers only a few indicators. The annual reports can only be found on the website of the National Securities Commission, or on the companies’ own websites. “There are many more things to be done in order to provide full transparency and integrity to the stock exchange’s partners, i.e. issuers, intermediaries and investors. However, intermediaries will always make money, it is investors who must be protected. That is why whether they have access to enough information is an issue,” Stere Farmache said on Friday, at the international seminar “Issuers and market integrity”, organised by the BSE’s Institute of Corporate Governance.