ESMA_QA_1878

30/10/2017

Subject Matter

Definition of APMs; Paragraph 17 of the APM Guidelines.

Original question

Do financial measures originally defined or specified in the applicable financial reporting framework and adjusted with the aim of isolating the effect of foreign currency on these measures qualify as APMs?

ESMA Answer

30-10-2017

Original language

[ESMA32-51-370 APM Q12]

Yes. Any adjustments to a financial measure defined or specified in the applicable financial reporting framework transform that measure in an APM in accordance with paragraph 17 of the APM Guidelines.

Status: Answer Published

Additional Information

Level 1 Regulation

Transparency Directive (TD) Directive 2004/109/EC

Level 3 Regulation

Guidelines on Alternative Performance Measures

Historic Question Reference

[ESMA32-51-370 APM Q12]

Topic

Alternative Performance Measures (APM)