In Ireland, disclosure of financial information by companies listed on the Irish Stock Exchange (www.ise.ie) is overseen by the Irish Financial Services Regulatory Authority (www.financialregulator.ie/), which instituted the Consumer Protection Code (known for short as the “Code”). This instrument was demanded by an Irish public increasingly interested in financial products. A survey by the financial regulator showed that 95% of adults in the country possessed a financial product. Hence the need to require financial communication to be as transparent as possible. Irrespective of the list chosen, companies must submit a prospectus to the Regulator and the company that runs the bourse. To be placed on the main list, the Official List, the Ise requires the filing of three years’ financial statements and the floating of at least 25% of the applicant’s stock. Choosing the Official List entails certain obligations in the subsequent life of the listed company, such as the need to inform shareholders of major acquisitions or disposals. There is also a list for small and medium enterprises, the Iex, whose rules are less stringent than those of the Official List. For example, it isn’t necessary to file prior financial statements, the minimum capitalization is €5m and there isn’t any minimum float. All listed companies must obviously publish their quarterly, half-year and full-year results and also give the market timely notice of any price sensitive operations that might affect normal trading in their stock.