INTERNATIONAL NEWS: PR Newswire aids disclosure work

LONDON: PR Newswire has announced the creation of a disclosure department in Europe, a move that should revolutionize the results process and lead to fewer late nights for financial PROs.

LONDON: PR Newswire has announced the creation of a disclosure department in Europe, a move that should revolutionize the results process and lead to fewer late nights for financial PROs.

LONDON: PR Newswire has announced the creation of a disclosure department in Europe, a move that should revolutionize the results process and lead to fewer late nights for financial PROs.

The department will offer a new secure Web interface called Disclose.

This works with standard commercial software to convert information to the DIPS system, which is currently the cause of many headaches. It plans to release the product in November.

This means that press officers who currently have to disclose information to the Regulatory News Service should be able to send news releases a lot more easily and quickly.

Quoted companies need a better way to send their news releases to the financial authorities and investors. PR Newswire's disclosure department will continually develop such products and services, said Mark Hynes, head of the new department.

The move comes as the UK Financial Services Authority draws up plans for a competitive disclosure services market, which will eventually lead to the end of the current regime probably sometime in the middle of next year.

PR Newswire managing director Vicky Unwin said, 'We intend to become a mechanism for disclosure all over Europe.

Providing disclosure mechanisms in the US has proved a lucrative business for PRN and co-market-leader Business Wire. Now, with globalization and tightening regulatory control (i.e., the SEC's Rule FD) both have moved to refine and expand their disclosure capabilities.



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