Requirements, Guidance and Q&As for the Transparency Directive and Regulations

Investment Market Conduct Rules

On 21 July 2019, the Central Bank (Investment Market Conduct) Rules (S.I. No. 366 of 2019) came into force.

The Central Bank (Investment Market Conduct) Rules are issued under Part 23 of the Companies Act 2014. Part 2 of the Central Bank (Investment Market Conduct) Rules sets out transparency requirements imposed by the Central Bank.

The Central Bank (Investment Market Conduct) Rules repeal the Transparency Rules previously issued by the Central Bank.

Guidance

Guidance on the "Transparency Regulatory Framework " is issued by the Central Bank under Section 1383 (7) of the Companies Act 2014.

The Central Bank of Ireland may publish further rules and/or guidance in respect of the Transparency Regulatory Framework in this section of its website.

Please note the Guidance on Transparency Regulatory Framework February 2026 incorporates a Question and Answer regarding the Transparency Regulatory Framework, which was previously housed in the Transparency Regulatory Framework Questions and Answers document (the Transparency Regulatory Framework Q&A). 

The Transparency Regulatory Framework Q&A is no longer a live document. Previous editions of the Transparency Regulatory Framework Q&A may be viewed here: 

Download the previous edition of the Transparency Regulatory Framework Q&A.

ESMA Guidelines

In October 2015, ESMA published the ESMA Guidelines on Alternative Performance Measures (the “APM Guidelines) (Reference: ESMA/2015/1415). The APM Guidelines are aimed at promoting the usefulness and transparency of Alternative Performance Measures ("APMs") included in prospectuses or regulated information. Adherence to the APM Guidelines will improve comparability, reliability and/or comprehensibility of APMs. The APM Guidelines apply to APMs disclosed by issuers or persons responsible for the prospectus when publishing regulated information or prospectuses on or after 3 July 2016.