ESMA updates Q&A on MAR

On 21 November 2017, the European Securities and Markets Authority (ESMA) updated its Questions & Answers (Q&A) document regarding the implementation of the Market Abuse Regulation (MAR).

The purpose of the Q&A document is to promote common supervisory approaches and practices in the application of MAR and its implementing measures. Today’s Q&As include two new answers on managers’ transactions, addressing in particular trading during “closed periods” by persons discharging managerial responsibilities (PDMRs).

MAR is intended to guarantee the integrity of European financial markets and increase investor confidence. The concept of market abuse typically consists of insider dealing, unlawful disclosure of inside information, and market manipulation.