Prevention of Financial Markets Abuse


Market Abuse Directive (MAD)

  Directive 2014/57/EU of the European Parliament and of the Council of 16 April 2014 on criminal sanctions for market abuse (Market Abuse Directive)

Market Abuse Regulation (MAR)

  Regulation (EU) no 596/2014 of the European Parliament and of the council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC

Commission Delegated Regulations & Commission Implementing Regulations/Directives

  Commission Delegated Regulation (EU) 2016/909 on the content of notifications to be submitted to competent authorities and the compilation, publication and maintenance of the list of notifications

  ITS Commission Implementing Regulation (EU) 2016/378 on the timing, format and template of the submission of notifications to competent authorities

  RTS Commission Delegated Regulation (EU) 2016/1052 on the conditions applicable to buy-back programmes and stabilisation measures

  RTS Commission Delegated Regulation (EU) 2016/960 on the appropriate arrangements, systems and procedures for disclosing market participants conducting market soundings

  Commission Implementing Regulation (EU) 2016/959 on the systems and notification templates to be used by disclosing market participants and the format of the records

  RTS Commission Delegated Regulation (EU) 2016/908 on the criteria, procedure and requirements for establishing an accepted market practice and the requirements for maintaining it, terminating it or modifying the conditions for its acceptance

  Commission Delegated Regulation (EU) 2016/957 on the appropriate arrangements, systems and procedures as well as notification templates to be used for preventing, detecting and reporting abusive practices or suspicious orders or transactions

  Commission Implementing Regulation (EU) 2016/1055 on the appropriate public disclosure of inside information and for delaying the public disclosure of inside information

  Commission Implementing Regulation (EU) 2016/347 on the precise format of insider lists and for updating insider lists

  ITS Commission Implementing Regulation (EU) 2016/523 on the format and template for notification and public disclosure of managers’ transactions

  RTS Commission Delegated Regulation (EU) 2016/958 on presentations of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest

  Commission Implementing Directive (EU) 2015/2392 on the reporting to competent authorities of actual or potential infringements

  ITS Commission Implementing Regulation (EU) 2017/1158 on the procedures and forms for competent authorities exchanging information with the European Securities Market Authority

  Commission Delegated Regulation (EU) 2016/522 on the exemption for certain third countries public bodies and central banks, the indicators of market manipulation, the disclosure thresholds, the competent authority for notifications of delays, the permission for trading during closed periods and types of notifiable managers’ transactions

  Commission Implementing Regulation (EU) 2018/292 on the procedures and forms for exchange of information and assistance between competent authorities

ESMA Q&As

  Questions and Answers on the Market Abuse Regulation

  Questions and Answers on the common operation of the Market Abuse Directive

ESMA Guidelines

  MAR Guidelines – Information relating to commodity derivatives markets or related spot markets for the purpose of the definition of inside information on commodity derivatives

  MAR Guidelines – Persons receiving market soundings

  MAR Guidelines – Delay in the disclosure of inside information