Pre-close calls face regulatory scrutiny after series of price swings

Trading

The long-standing practice is a ‘grey area’. Europe's regulators are now looking at whether that needs to change

Puma dropped 11.5% around the time of its analyst call, as questions surround briefings before blackouts Photo: Getty Images

The European Securities and Markets Authority is set to push financial regulators in the EU to scrutinise ‘pre-close calls’ following a series of volatile trading sessions last year.

Pre-close calls are a long-standing practice among large European companies, in which they offer guidance to analysts ahead of the blackout period before they issue their results.

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