{"release":{"id":"a4f2a0495fe55b47323883f82977a9b34ab66171ec9623e39925d3a7045b6c81","published":"2026-11-01T16:41:30Z","pinned":false},"limits":{"coverage":{"history":"current_only","held_since":"2018-10-01","gaps":[],"covered":["ESMA Q&A 1724 — Q&A — Delayed disclosure of inside information under Article [Answer Published] L3"],"not_covered":["national guidance","court decisions"]},"freshness":{"release_id":"a4f2a0495fe55b47323883f82977a9b34ab66171ec9623e39925d3a7045b6c81","release_published":"2026-11-01T16:41:30Z","checked_at":"2026-10-27","checked_against":"the ESMA publication"},"truncation":null,"failures":[],"incomplete":[]},"page":{"path":"/mar/level-3/q-and-a/esma/esma-qa-1724-delayed-disclosure-of-inside-information-under-article-17-5","url":"https://www.headlesslaw.com/mar/level-3/q-and-a/esma/esma-qa-1724-delayed-disclosure-of-inside-information-under-article-17-5","title":"ESMA Q&A 1724 — Q&A — Delayed disclosure of inside information under Article [Answer 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\"ESMA Q&A 1724 — Q&A — Delayed disclosure of inside information under Article [Answer Published]\"\nshortTitle: \"ESMA Q&A 1724 — Q&A — Delayed disclosure of inside information under Article [Answer Published]\"\nanswer_id: ESMA_QA_1724\ntopic: \"Inside information, public disclosure and delayed disclosure of inside information\"\nstatus: \"Answer Published\"\ntype: qa\ninstrument_type: qa\nauthority: ESMA\nbinding: false\nbinding_character: non_binding\nlegal_status: in_force\nregulation: \"MAR\"\nmar_level3: true\nmica_level2: false\nlegal_basis: \"MAR\"\ndate: 1 October 2018\nsource_link: https://www.esma.europa.eu/publications-data/questions-answers/1724\nlifecycle: \"Answer Published\"\ntext_version: \"ESMA Q&A register, 1 October 2018\"\nsource_url: \"https://www.esma.europa.eu/publications-data/questions-answers/1724\"\ncheck_status: matched\nverified: true\nlast_checked: 2026-10-27\nchecked_against: \"the ESMA publication\"\nsource:\n  prepared_by: \"ESMA\"\n  published_by: \"ESMA\"\n  published_in: \"ESMA Q&A tool\"\n  evidence:\n    prepared_by: \"ESMA Answer\"\n    locator: \"ESMA Q&A entry ESMA_QA_1724: field 'ESMA Answer', no 'Answer provided by' line\"\ndocument_type: \"qa_answer\"\nlegal_nature: \"not_legislation\"\naddressees: \"not stated in the document\"\ndates:\n  published_on: \"2018-10-01\"\n  question_submitted_on: \"2018-10-01\"\n  locators:\n    published_on: \"ESMA Q&A Excel export ESMA_QA_1724, column 'Esma responses', date line\"\n    question_submitted_on: \"ESMA Q&A Excel export ESMA_QA_1724, column 'Date of submission'\"\nlifecycle_label: \"Answer Published\"\n---\n\n**Answer by ESMA, published in its Q&A tool · not legislation · published 1 Oct 2018 [Answer Published]**\n\n*Answer Published · ESMA Q&A register, 1 October 2018 · Checked against the ESMA publication on 27 Oct 2026 · [Official source](https://www.esma.europa.eu/publications-data/questions-answers/1724)*\n\n| | |\n|---|---|\n| **Full title** | ESMA Q&A 1724 — Q&A — Delayed disclosure of inside information under Article \\[Answer Published\\] |\n| **Prepared by** | ESMA |\n| **Published by** | ESMA, in the ESMA Q&A tool |\n| **Reference** | ESMA_QA_1724 |\n| **Document type** | Q&A |\n| **Legal nature** | Not legislation |\n| **Addressees** | Not stated in the document |\n| **Dates** | Published 1 October 2018; question submitted 1 October 2018 |\n| **Legal basis** | MAR |\n| **Related instruments** | None recorded |\n| **Text on this page** | Word for word — the full text of the ESMA publication |\n\n**Delayed disclosure of inside information under Article 17(5) of MAR: NCA’s denial of consent**\n\n### Question\n\nWhere the NCA does not consent to the delay of disclosure under Article 17(5) of MAR, can a credit/financial institution or its parents undertaking resort to Article 17(4) of MAR?\n\n***\n\n### Answer\n\n\\[ESMA70-145-111 MAR Q&A, Q&A 5.5\\]\n\nNo. Where the relevant conditions are not met, the NCA cannot consent to the delay under Article 17(5) of MAR and, according to Article 17(6) of MAR, the credit/financial institution or its parent undertaking will have to disclose the inside information immediately.\n\nIn that case, credit/financial institutions or their parent undertakings will not be able to resort to the delay of disclosure under Article 17(4) of MAR.\n\n***\n\n**Source:** [ESMA original document](https://www.esma.europa.eu/publications-data/questions-answers/1724)\n"}