ESMA_QA_1724

Status: ✅ Answer Published

Link to ESMA Q&A tool: https://www.esma.europa.eu/publications-data/questions-answers/1724

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Regulatory Context

Regulation : MAR

Level 1 Regulation: Market Abuse Regulation (MAR) Regulation (EU) No 596/2014 - Market Intergrity

Level 2 Regulation: No information available

Level 3 Regulation: No information available

Topic: Inside information, public disclosure and delayed disclosure of inside information

Subject Matter: Delayed disclosure of inside information under Article 17(5) of MAR: NCA’s denial of consent

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Question

Submission Date: 01 October 2018

Where the NCA does not consent to the delay of disclosure under Article 17(5) of MAR, can a credit/financial institution resort to Article 17(4) of MAR?

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ESMA Answer

Answer Date: 01-10-2018

[ESMA70-145-111 MAR Q&A, Q&A 5.5] No. Where the relevant conditions are not met, the NCA cannot consent to the delay under Article 17(5) of MAR and, according to Article 17(6) of MAR, the credit/financial institution will have to disclose the inside information immediately. In that case, credit/financial institutions will not be able to resort to the delay of disclosure under Article 17(4) of MAR.

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This document was automatically extracted from the ESMA EMIR Q&A database.