The following provisions entered into force on 03.07.2016: Market Abuse Regulation (MAR)
The Financial Market Authority would like to draw particular attention to the following points in relation to the applicability of the MAR (Regulation (EU) No 596/2014) from 3 July 2016:
Directors’ dealings
- From 3 July 2016 the Financial Market Authority no longer reports about Directors’ Dealings, but they are instead published by the issuer.
- In the case of legal persons, trust or partnerships as defined in Article 3 (1) 26 point d) MAR, it no longer depends with effect from 03.07.2016, whether the transaction provides the person in a managerial capacity with a significant economic advantage (as a rule where there is a 50% holding / voting rights / allocation of profits).
Forms / List of Insiders
The Financial Market Authority has made reporting forms pursuant to Articles 16 and 19 MAR available and has made the insider list pursuant to Article 18 MAR available for download in Excel format:
Suspicious Transaction Reports (STOR) – Art 16 MAR
Directors’ Dealings – Art 19 MAR
Insider list – Art 18 MAR
For the Directors’ Dealings form in accordance with Art 19 MAR there are also Instructions
on filling out this form.
List containing an overview of European legal acts
The European Commission has published a list containing an overview of European legal acts, that are based on the MAR (http://ec.europa.eu/finance/securities/abuse/index_en.htmm) There is an overview about the RTS/ITS that have been issued on the right-hand side. The following legal acts were recently published:
Furthermore the Benchmark Regulation has also been published in the mean-time, with Article 56 amended the MAR. In this amendment thresholds have been introduced in relation to Directors’ Dealings for UCITS/Baskets/Indexes, below which there is no reporting requirement.