On 30 March 2004 the European Commission announced that the EU Parliament had in its first reading approved the Commission's proposal for a Transparency Directive. The text approved by Parliament is not yet available, but according to the Commission's press release, issuers that do not already publish quarterly reports will have to publish interim management statements between the annual financial report and the half-yearly financial report; and third country bond issuers using third country accounting standards for their bonds listed before 1 January 2005 may continue to do so, provided that certain conditions are met. The press release is available on the Transparency obligations of publicly traded companies page of the Commission's Internal Market website. The text approved by Parliament should be posted there also. (For background, see Legal update, Transparency Directive: Compromise proposal, and the articles there linked.)