ESMA publishes Q&A on MAD regarding definition of inside information on dividends

09 January 2012

ESMA published a Q&A on the definition of inside information of the Market Abuse Directive (MAD), with regards to information relating to dividends by an issuer of financial instruments that would be likely to have a significant effect on the prices of related derivative financial instruments.

The purpose of this document is to promote convergent implementation and application of the market abuse regime by providing responses to specific issues raised by the general public, market participants or competent authorities.

The content of this document is aimed at competent authorities to ensure that in their supervisory activities their actions are converging along the lines of the responses adopted by ESMA and at helping issuers, investors and other market participants by providing clarity on existing market abuse requirements, rather than creating an extra layer of requirements.

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