ESMA Q&A 1723 — Q&A — Delayed disclosure of inside information under Article [Answer Published]

Delayed disclosure of inside information under Article 17(5) of MAR: notification of the expected duration

Question

Are credit/financial institutions or their parent undertakings required to notify the NCA of the expected duration of the delay under Article 17(5) of MAR?

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Answer

[ESMA70-145-111 MAR Q&A, Q&A 5.4]

Yes. The credit/financial institutions or their parent undertakings notifying the NCA of their intention to resort to the financial stability delay are expected to provide their assessment on the expected length of the delay and the details of expected trigger events.

If the NCA gives its consent to the delay further to its own assessment of the relevant conditions, credit/financial institutions or their parent undertakings should inform the NCA whenever they become aware of a new element or event that may affect the duration of the delay under Article 17(5) of MAR.

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Source: ESMA original document