When can "postponed disclosure" occur?

The main rule is that inside information should be published as soon as possible (MAR Art. 17).
However, publication may be postponed if all of the following conditions are met (MAR Art. 17.4):

  • immediate disclosure is likely to damage the legitimate interests of the Company;
  • it is unlikely that deferred disclosure misleads the public; and
  • the company can ensure that the information remains confidential.

Immediately after the company has published such information, the financial supervisory authority shall be informed that the publication has been postponed.

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