MAR sanctioned infringements include failures to comply with:

  • the prohibition of insider dealing and of unlawful disclosure of inside information (art. 14);
  • the prohibition of market manipulation (art. 15);
  • the requirements concerning prevention and detection of market abuse (art. 16);
  • the requirements on Public disclosure of inside information (art. 17);
  • the requirements on management of the insider list (art. 18), including;
  • failure to promptly create or update an insider list;
  • lack of information to, or information collection from, insiders regarding MAR;
  • missing dates and time-stamps for changes in the insider list;
  • dissemination of insider list information to non-authorised persons;
  • inadequate archiving of the insider list and related previous versions;
  • unnecessary delay in submitting the insider list to the NCA;