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\"ESMA Q&A 1735 — Q&A — Types of transactions by PDMRs prohibited during [Answer Published]\"\nshortTitle: \"ESMA Q&A 1735 — Q&A — Types of transactions by PDMRs prohibited during [Answer Published]\"\nanswer_id: ESMA_QA_1735\ntopic: \"Managers' transactions\"\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: 21 November 2017\nsource_link: https://www.esma.europa.eu/publications-data/questions-answers/1735\nlifecycle: \"Answer Published\"\ntext_version: \"ESMA Q&A register, 21 November 2017\"\nsource_url: \"https://www.esma.europa.eu/publications-data/questions-answers/1735\"\ncheck_status: matched\nverified: true\nlast_checked: 2026-10-26\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_1735: 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: \"2017-11-21\"\n  question_submitted_on: \"2017-11-21\"\n  locators:\n    published_on: \"ESMA Q&A Excel export ESMA_QA_1735, column 'Esma responses', date line\"\n    question_submitted_on: \"ESMA Q&A Excel export ESMA_QA_1735, column 'Date of submission'\"\nlifecycle_label: \"Answer Published\"\n---\n\n**Answer by ESMA, published in its Q&A tool · not legislation · published 21 Nov 2017 [Answer Published]**\n\n*Answer Published · ESMA Q&A register, 21 November 2017 · Checked against the ESMA publication on 26 Oct 2026 · [Official source](https://www.esma.europa.eu/publications-data/questions-answers/1735)*\n\n| | |\n|---|---|\n| **Full title** | ESMA Q&A 1735 — Q&A — Types of transactions by PDMRs prohibited during \\[Answer Published\\] |\n| **Prepared by** | ESMA |\n| **Published by** | ESMA, in the ESMA Q&A tool |\n| **Reference** | ESMA_QA_1735 |\n| **Document type** | Q&A |\n| **Legal nature** | Not legislation |\n| **Addressees** | Not stated in the document |\n| **Dates** | Published 21 November 2017; question submitted 21 November 2017 |\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**Types of transactions by PDMRs prohibited during closed periods**\n\n### Question\n\nAre the types of \"transaction\" by a PDMR prohibited during a closed period under Article 19(11) of MAR the same as those types of transaction subject to the notification requirements set out under Article 19(1) of MAR?\n\n***\n\n### Answer\n\n\\[ESMA70-145-111 MAR Q&A, Q&A 7.9\\]\n\nYes.\n\nIt is pointed out that Article 19(11) of MAR only applies to a PDMR when conducting transactions on its own account or for the account of a third party whereas the notification of transactions required under Article 19(1) of MAR also applies to persons closely associated to a PDMR.\n\n***\n\n**Source:** [ESMA original document](https://www.esma.europa.eu/publications-data/questions-answers/1735)\n"}