Information duties of issuers and rules applicable to takeover bids

CMVM regulation 1/2023

CMVM (the Portuguese Securities Market Commission) Regulation 1/2023 on the information obligations of issuers and rules applicable to takeover bids (“Regulation 1/2023” or the “Regulation”) was published on 26 April. The Regulation repeals CMVM Regulations 7/2018 (amendment of CMVM Regulation 5/2008), 5/2008 (disclosure requirements), 3/2006 (bids and issuers), 11/2005 (scope of International Accounting Standards) and 6/2002 (presentation of financial information by segment). 

The Regulation also provides for the possibility of reviewing and consolidating all these matters not subject to repeal into a single, autonomous and simplified regulation.