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Capital markets, draft law ready, new rules for company reporting

2026-03-18 17:14:06, Ekonomi CNA

The Ministry of Economy and Innovation released for consultation a new draft law on issuer transparency, which aims to establish clearer and stronger rules for how companies operating in capital markets report their information.

The draft "On transparency requirements for issuers of securities" is in line with European Union directives and represents an effort to bring Albanian legislation closer to European standards.

Essentially, the draft law requires every company whose securities are listed on a regulated market to publish regularly and in detail information on its financial situation and activity. This includes annual reports, which must be published within four months of the end of the financial year, as well as half-yearly reports within three months of the end of the relevant period. These documents must be accessible to the public for a long period, up to 10 years, in order to allow investors to analyze the performance of companies over time.

An important element of the draft is the expansion of transparency beyond numbers. Companies will also have to report on the risks, uncertainties and factors that may affect their activity, including in some cases sustainability aspects.

The draft law also establishes clear rules for ownership transparency. Any shareholder who reaches or crosses certain thresholds of voting rights, starting from 5% and up, will be obliged to notify this change. The aim is to make it more visible who actually controls companies and to avoid situations where influence is exercised covertly.

Another important new aspect is the mandatory transition to electronic reporting in a standardized format in the coming years, in line with EU practices. This is expected to facilitate data comparison and analysis by investors, making information more usable and transparent. However, the real impact of this law will depend on the context in which it is implemented. Albania still has a limited capital market, with few listed companies and a low participation of public investors./Monitor.al