The European Securities and Markets Authority (ESMA) has updated
its guidelines regarding issuers' ability to delay the
disclosure of inside information in terms of article 17 of the
Market Abuse Regulation (MAR). The updates mainly concern listed
credit institutions, specifically to cater for the interaction
between their obligation to publish inside information in terms of
MAR and the EU prudential supervisory framework.
Background
Article 17 of MAR requires issuers to publicly disclose any
inside information that directly concerns them as soon as possible.
By way of example, an issuer's decision to carry out
redemptions, reductions and repurchases of own funds instruments
and the related share premium accounts could technically qualify as
inside information in terms of MAR, which would therefore require
public disclosure.
