News & Analysis as of

Insider Trading EU Market Abuse Regulation (EU MAR)

Latham & Watkins LLP

EU Listing Act - Regulatory Divergence Between EU and UK MAR

Latham & Watkins LLP on

Until recently, the UK and EU post-Brexit market abuse regimes remained substantially aligned. However, the passing of the EU Listing Act reforms in 2024 has meant that UK and EU MAR have started to diverge meaningfully for...more

Latham & Watkins LLP

ESMA Sets Out Good Practices for Calls With Analysts Ahead of MAR Closed Periods

Latham & Watkins LLP on

The guidance was issued after ESMA and national regulators observed “high volatility episodes” in EU share prices, some of which took place shortly after pre-close calls with analysts....more

BCLP

5 tips for issuers following FCA delayed disclosure review

BCLP on

The Financial Conduct Authority (FCA) conducted a review of Delayed Disclosure of Inside Information (DDII) notifications which identified a number of areas where it will be increasing its oversight in the future. This note...more

Latham & Watkins LLP

The MAR Review — ESMA’s Final Report

Latham & Watkins LLP on

ESMA advises the European Commission to consider some, but not all, of ESMA’s original proposals — and gives guidance on pre-hedging and market soundings along the way. Key Points: ..Pre-hedging / front running: ESMA...more

Proskauer - Corporate Defense and Disputes

Second Circuit Holds that a “Personal Benefit” Is Not Required for Insider Trading Under Criminal Securities Statute

The Second Circuit held earlier this week that the criminal statute proscribing securities fraud permits convictions for insider trading without proof that the provider of material, nonpublic information received a personal...more

Jones Day

Further Implementation of the Market Abuse Regulation, European Capital Markets Update

Jones Day on

On 31 July 2017, a new law was adopted to further implement and ensure the effectiveness of Regulation 596/2014 on market abuse ("Market Abuse Regulation"). This new law amends the law of 2 August 2002 on the supervision of...more

Jones Day

Italy's Inside Information Disclosure Requirements Addressed in CONSOB Guidelines

Jones Day on

The Situation: In July 2016, the Market Abuse Regulation ("MAR") came into effect, introducing detailed requirements for EU listed issuers regarding disclosure of inside information, with a view to fighting market abuse. ...more

Skadden, Arps, Slate, Meagher & Flom LLP

"EU Market Abuse Regulation — New Requirements for Issuers of Debt Securities Admitted to Trading in Europe"

On 3 July 2016, Regulation 596/2014 of the European Parliament and of the Council of the European Union (the Market Abuse Regulation) repealed and replaced Directive 2003/6/EC on Market Abuse (the Market Abuse Directive)....more

Morgan Lewis

UK Market Abuse Regime Extends Its Reach: Implications for Market Participants

Morgan Lewis on

The new regime shares the same aims as its predecessor—to ensure the integrity of EU financial markets and enhance investor confidence—and keeps pace with market developments such as new trading platforms, new technology, and...more

King & Spalding

Asset managers’ guide to the EU Market Abuse Regulation: will you be compliant on 3 July 2016?

King & Spalding on

The EU Market Abuse Regulation (596/2014) (“MAR”) applies from 3 July 2016. This guide is intended as an aid to asset managers in assessing, in the weeks running up to 3 July but also on an ongoing basis, whether amendments...more

Orrick - Finance 20/20

ESMA Consults on Guidelines on Disclosure of Information on Commodity Derivatives Markets or Related Spot Markets under MAR

On March 30, the European Securities and Markets Authority (“ESMA”) opened a public consultation on draft guidelines under the Market Abuse Regulation (“MAR”). ESMA is consulting on its proposed non-exhaustive indicative list...more

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