The Transparency Directive prescribes the minimum content of annual, semi-annual and interim management statements; sets notification requirements; and outlines the procedures for storing and distributing ownership information across Europe.
Key Facts
Under DTR5 investors must alert issuers of securities and national governments when they gain a significant shareholding (defined as 5% or greater) in a company. The goal of this is to remain aware of who is benefitting from rights in a company and identify and prevent cases of abuse or hostile takeover.
Additional Information
Key Provisions of Basel III (BIS Press Release and Timeline)
Who it affects
Investors and Issuers of Securities
Wikipedia Entry
https://en.wikipedia.org/wiki/Markets_in_Financial_Instruments_Directive