ESMA urges companies to disclose potential Brexit impact

Listed companies should disclose the potential impact of Brexit in their financial statements, the European Securities and Markets Authority (ESMA) has said. In its annual statement on European common enforcement priorities, which identifies enforcement priorities for listed companies’ financial statements, ESMA "urges issuers …

[s. pam]

Will they also develop a Feckwit detector?

Phuck 'em...

[Dazed and Confused]

Who will this apply to?

Is this just aimed at UK businesses are is this a European wide edict? It would be really useful for the negotiators on both sides to understand the likely impact of the coming changes. Pro-European leaders across the continent have expressed a wish to punish the UK for raining on their parade. A failed trade deal is going to hurt both sides so if those driving the negotiations can see that vengeance based ideology is going to hurt them they might come to the table with cooler heads.

Then again pigs might fly.

[Pascal Monett]

"two thirds do not know how the change will affect their balance sheets"

That, in itself, is not entirely surprising. The future is difficult to predict.

What they should know, however, is how the change can affect them. Banks should definitely have previsions for that.

Except that, these days, banks are just money-counters. They have lost the ability to forecast anything because they are blinded by the short-term, just like politicians.

[DNTP]

Re: "two thirds do not know how the change will affect their balance sheets"

If banks made long-term predictions about strategies that could go wrong or worst-case scenarios, they'd be more liable for deliberately running programs into the ground anyway for short-term profits.

Then again when the worst-case scenario is "taxpayer bailout, pay executive bonuses anyway" that tends not to encourage responsible forethought,

[druck]

Brexit FUD backfire

I suspect this is an European institution looking create Brexit FUD in the UK, but if it is applied Europe wide they will find it's European firms that will have more to lose.

[just another employee]

Err

Didn't the EU ban anyone from doing or thinking about doing anything to do with Brexit until article 50 actually invoked.

Obviously doesn't apply to themselves.

Feckers.

[Dazed and Confused]

Re: Err

And the Irish have just stuck two fingers up at them too. If your business is suffering today there's no point in waiting before you start working out what you are going to want to do.

[Donkey Molestor X]

i got your risk right here you Yuropeein' sons of bitches:

there is a risk that due to the hojillions of pounds of cash no longer being paid to Crooked EU that the savings will all be plowed into the NHS and blow the UK into Superland!

Helpful illustration of Superland included herewith:

http://www.angryflower.com/buyeve.html

[Anonymous Coward]

While studying economics I hit well in all the sub-disciplines but was best attuned to econometrics. There is absolutely no effing way I'd even try to create models let alone try to evaluate the resulting forecasts as to what might happen down the road. "Brexit means Brexit" isn't something I crank into the models. I pity my compadres on your side of the Pond!