On March 29, the European Securities and Markets Association (ESMA) published an updated version of its questions and answers document (Q&As) on the Market Abuse Regulation (MAR). ESMA last updated the Q&As on November 12, 2018 (as reported in the November 16, 2018 edition of the Corporate & Financial Weekly Digest).

The Q&As clarify:

  1. Q&A 5.6, the scope of collective investment undertakings (CIUs) that are subject to the MAR provision to disclose inside information;
  2. Q&A 5.7, examples of specific cases of inside information that may arise with respect to CIUs admitted to trading or traded on a trading venue;
  3. Q&A 11.2, the meaning of parent and related undertakings for the purpose of emission allowance market participants complying with the provisions of MAR relating to the public disclosure of inside information concerning emission allowances with respect to their business; and
  4. Q&A 11.3, when emission allowances market participants are under an obligation to disclose inside information concerning emission allowances where such inside information relates to installations of group undertakings.

ESMA’s updated Q&As are available here and its accompanying press release is available here.