CopiedWhich Are The MAR Sanctioned Infringements?

MAR sanctioned infringements include failures to comply with:

• The Prohibition of Insider Dealing and Unlawful Disclosure of Inside Information (Art. 14): This includes any activity related to insider trading or the improper sharing of inside information.
• The Prohibition of Market Manipulation (Art. 15): Engaging in activities designed to manipulate market prices or provide misleading impressions of financial instruments.
• The Requirements for Prevention and Detection of Market Abuse (Art. 16): This encompasses maintaining proper preventive measures and systems for detecting potential market abuse.
• Public Disclosure of Inside Information (Art. 17): Failing to disclose inside information to the public promptly and appropriately.
• Management of the Insider List (Art. 18): Issues can include:
  • Failure to Promptly Create or Update an Insider List: Insider lists must be maintained accurately and updated promptly.
  • Lack of Information to or from Insiders Regarding MAR: Ensuring that insiders are well-informed about their obligations and collecting necessary information.
  • Missing Dates and Time-Stamps for Changes: Proper tracking and documentation of any changes to the insider list.
  • Dissemination of Insider List Information to Non-Authorised Persons: Protecting insider list information from unauthorized access.
  • Inadequate Archiving of Insider List and Previous Versions: Keeping comprehensive records of all versions of the insider list.
  • Unnecessary Delay in Submitting Insider List to the NCA: Prompt submission of insider lists to the National Competent Authority (NCA) when required.

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