Wall-crossing is a crucial aspect of finance, particularly in the investment banking industry. “Wall-crossing” in the context of MAR basically refers to conducting a market sounding involving disclosure of inside information to […]

The MAR Art. 11 (Market Soundings Regime) stipulates certain procedures that are to be followed – and in exchange, relevant involved parties navigating through those procedures reaches the protective “safe harbour” – […]

MAR stipulates a general requirement to keep lists concerning insiders, whereas there is no similar requirement for lists under IAS 24. Even so, certain EU countries, e.g. Finland, have already installed certain […]

ESMA published a final report 5 January 2022 concerning delayed disclosure underMAR. The translated guidelines were published 13 April 2022. Each respective EUnational competent authority thereafter has 2 months to comply and/or […]

Logwise has continuously assessed that interpretation and enforcement of MAR inside information regulations would subsequently become stricter, following its original 2016 and 2017 implementation measures. These predictions have again been vindicated. The […]

As MAR recently passed its 5th anniversary, market participants across EU continue to adapt their processes and policies to ensure they are aligned with the requirements and follow best practice. ESMA and […]

On 15 July 2021, ESMA published its consultation paper primarily proposing additions to its guidelines list regarding delayed disclosure of inside information. Issuers can delay disclosure when: (i) immediate disclosure is likely […]

This 23 September 2020 ESMA MAR final report follows up on the ESMA 3 October 2019 Consultation Paper MAR review report. Logwise provides below the key takeaways from the final report. Inside […]

The issuer, its “persons discharging managerial responsibilities” (“PDMRs”) and their “persons closely associated” (“PCAs”) all have certain important obligations under MAR. A central obligation is naturally for the issuer to draw up […]

At Logwise, we often receive questions from companies that use our logbook service for insiders and persons discharging managerial responsibilities (PDMRs) to meet the MAR requirements. A recurrent question is: What is […]

The integrity of financial markets relies on the mechanisms for controlling the flow of inside information. This article highlights 6 situations when MAR regulated entities may deviate from the general rule of immediate disclosure […]

When can inside information generally be delayed? The main rule in MAR is that inside information should be published as soon as possible (Article 17). However, a publication may be postponed if […]