ESMA consults on MAR review

03 October 2019

The consultation paper includes proposals affecting the investor community as a whole, but which are particularly relevant for issuers of financial instruments admitted to trading or traded on a trading venue and their management, investment firms and asset management companies.

The consultation paper addresses a wide range of issues, including:

• the possible inclusion of spot FX contracts within the scope of MAR;
• the definition and delayed disclosure of inside information in different cases;
• the appropriateness of the trading prohibition and insider lists for persons discharging managerial responsibilities (PDMRs);
• a possible cross-market order book surveillance framework;
• cum/ex and multiple withholding tax reclaim schemes; and
• cross-border enforcement of sanctions.

Next steps

Stakeholders are invited to provide feedback on the consultation before 29 November 2019.

Full consultation

Related article on Financial Times: EU watchdog scrutinises currency market proposals (subscription required)

 

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