<!-- headlesslaw {"release":{"id":"a4f2a0495fe55b47323883f82977a9b34ab66171ec9623e39925d3a7045b6c81","published":"2026-11-01T16:41:30Z","pinned":false},"limits":{"coverage":{"history":"from:2021-01-01","held_since":"2021-01-01","gaps":[],"covered":["2016/522 — Delegated act — Indicators of market manipulation, closed periods [in force] L2"],"not_covered":["national guidance","court decisions"]},"freshness":{"release_id":"a4f2a0495fe55b47323883f82977a9b34ab66171ec9623e39925d3a7045b6c81","release_published":"2026-11-01T16:41:30Z","checked_at":"2026-10-20","checked_against":"EUR-Lex"},"truncation":null,"failures":[],"incomplete":[]},"page":{"path":"/mar/level-2/delegated-acts/2016-522-exemptions-manipulation-indicators-closed-period/articles/4","url":"https://www.headlesslaw.com/mar/level-2/delegated-acts/2016-522-exemptions-manipulation-indicators-closed-period/articles/4","title":"Article 4 — Indicators of manipulative behaviour","family":"l2_unit_view","work_id":"spaces/mar/level-2/delegated-acts/2016-522-exemptions-manipulation-indicators-closed-period","view_of":"/mar/level-2/delegated-acts/2016-522-exemptions-manipulation-indicators-closed-period","status":"in_force","force_status":"in_force","date_state":"current","requested_date":null,"as_of":"2026-11-01","applies_from":null,"application":null,"version_label":"Consolidated version of 5 August 2026","check":{"against":"EUR-Lex","on":"2026-10-20"},"check_result":"matched","official_url":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02016R0522-20260805","valid_from":"2016-04-25","valid_until":null,"content_id":"f1712ce3bb2f9af7","versions":["2016-04-25"],"version_url":"https://www.headlesslaw.com/mar/level-2/delegated-acts/2016-522-exemptions-manipulation-indicators-closed-period/articles/4/versions/2021-01-01","revision_url":"https://www.headlesslaw.com/mar/level-2/delegated-acts/2016-522-exemptions-manipulation-indicators-closed-period/articles/4/versions/2021-01-01/rev/f1712ce3bb2f9af7","versions_url":"https://www.headlesslaw.com/mar/level-2/delegated-acts/2016-522-exemptions-manipulation-indicators-closed-period/articles/4/versions","relations_url":"https://www.headlesslaw.com/mar/level-2/delegated-acts/2016-522-exemptions-manipulation-indicators-closed-period/articles/4/relations","act_url":"https://www.headlesslaw.com/mar/level-2/delegated-acts/2016-522-exemptions-manipulation-indicators-closed-period#art-4","source_line":"Commission Delegated Regulation (EU) 2016/522 · binding · OJ L 88, 5.4.2016 · dated 17 Dec 2015 [in force]","attribution":{"prepared_by":"European Commission","published_by":"Publications Office of the EU","published_in":"Official Journal of the European Union","document_type":"delegated_regulation","legal_nature":"binding_adopted","addressees":"not stated in the document","dates":{"document_date":"2015-12-17","entry_into_force":"2016-04-25","locators":{"document_date":"CELLAR 32016R0522 work_date_document","entry_into_force":"CELLAR 32016R0522 resource_legal_date_entry-into-force (earliest)"}},"adoption":null},"context":{"act":{"work_id":"spaces/mar/level-2/delegated-acts/2016-522-exemptions-manipulation-indicators-closed-period","path":"/mar/level-2/delegated-acts/2016-522-exemptions-manipulation-indicators-closed-period","name":"Commission Delegated Regulation (EU) 2016/522","number":"2016/522","celex":"32016R0522","title_official":"COMMISSION DELEGATED REGULATION (EU) 2016/522 of 17 December 2015 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council as regards an exemption for certain third countries public bodies and central banks, the indicators of market manipulation, the disclosure thresholds, the competent authority for notifications of delays, the permission for trading during closed periods and types of notifiable managers' transactions (Text with EEA relevance)","document_date":"2015-12-17"},"position":{"kind":"article","key":"4","index":4,"articles":12,"annexes":3},"prev":{"path":"/mar/level-2/delegated-acts/2016-522-exemptions-manipulation-indicators-closed-period/articles/3","key":"3","title":"Article 3 — Exempted public bodies and central banks of third countries"},"next":{"path":"/mar/level-2/delegated-acts/2016-522-exemptions-manipulation-indicators-closed-period/articles/5","key":"5","title":"Article 5 — Minimum thresholds of carbon dioxide and rated thermal input"},"act_anchor":"#art-4"}}} -->
# Article 4 — Indicators of manipulative behaviour

**Commission Delegated Regulation (EU) 2016/522 · binding · OJ L 88, 5.4.2016 · dated 17 Dec 2015 [in force]**

*In force · Consolidated version of 5 August 2026 · Checked against EUR-Lex on 20 Oct 2026 · [Official source](https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02016R0522-20260805)*

1. <a id="art-4-p-1"></a>In relation to indicators of manipulative behaviour relating to false or misleading signals and to price securing referred to in Section A of Annex I to Regulation (EU) No 596/2014, the practices set out in Indicators A(a) to A(g) of Annex I to Regulation (EU) No 596/2014 are laid down in Section 1 of Annex II to this Regulation.
1. <a id="art-4-p-2"></a>In relation to indicators of manipulative behaviour relating to the employment of a fictitious device or any other form of deception or contrivance referred to in Section B of Annex I to Regulation (EU) No 596/2014, the practices set out in Indicators B(a) and (b) of Annex I to Regulation (EU) No 596/2014 are laid down in Section 2 of Annex II to this Regulation.
