Annual reporting obligations require recognised stock exchanges to furnish detailed activity reports and audited financial statements to the regulator. Recognised stock exchanges must annually furnish the securities regulator with a detailed report of activities for the preceding calendar year-covering rule and bye law changes, governing body and sub committee composition, member admissions and departures, disciplinary actions, arbitration between members and non members, defaults, emergency trade measures, listing and de listing, and forward list changes-and must file audited balance sheet and profit and loss accounts for the preceding financial year within the prescribed post AGM period.