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its Q&A tool · not legislation · published 1 Sep 2017 [Answer Published]","attribution":{"prepared_by":"ESMA","published_by":"ESMA","published_in":"ESMA Q&A tool","document_type":"qa_answer","legal_nature":"not_legislation","addressees":"not stated in the document","dates":{"published_on":"2017-09-01","question_submitted_on":"2017-09-01","locators":{"published_on":"ESMA Q&A Excel export ESMA_QA_1750, column 'Esma responses', date line","question_submitted_on":"ESMA Q&A Excel export ESMA_QA_1750, column 'Date of submission'"}},"adoption":null}},"provenance":{"official_url":"https://www.esma.europa.eu/publications-data/questions-answers/1750","check":{"result":"matched","checked_at":"2026-10-27","against":"the ESMA publication"},"repo_path":"spaces/mar/level-3/q-and-a/esma/esma-qa-1750-issuer-s-responsibility-in-case-of-delegation.md","body_sha256":"c4076afa76a0ea7ed5344187524396f6863348a618c0d8c361cb083c6fc86b29"},"units":[],"markdown":"---\ntitle: \"ESMA Q&A 1750 — Q&A — Issuer’s responsibility in case of delegation [Answer Published]\"\nshortTitle: \"ESMA Q&A 1750 — Q&A — Issuer’s responsibility in case of delegation [Answer Published]\"\nanswer_id: ESMA_QA_1750\ntopic: \"Insider lists\"\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 September 2017\nsource_link: https://www.esma.europa.eu/publications-data/questions-answers/1750\nlifecycle: \"Answer Published\"\ntext_version: \"ESMA Q&A register, 1 September 2017\"\nsource_url: \"https://www.esma.europa.eu/publications-data/questions-answers/1750\"\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_1750: 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: \"2017-09-01\"\n  question_submitted_on: \"2017-09-01\"\n  locators:\n    published_on: \"ESMA Q&A Excel export ESMA_QA_1750, column 'Esma responses', date line\"\n    question_submitted_on: \"ESMA Q&A Excel export ESMA_QA_1750, column 'Date of submission'\"\nlifecycle_label: \"Answer Published\"\n---\n\n**Answer by ESMA, published in its Q&A tool · not legislation · published 1 Sep 2017 [Answer Published]**\n\n*Answer Published · ESMA Q&A register, 1 September 2017 · Checked against the ESMA publication on 27 Oct 2026 · [Official source](https://www.esma.europa.eu/publications-data/questions-answers/1750)*\n\n| | |\n|---|---|\n| **Full title** | ESMA Q&A 1750 — Q&A — Issuer’s responsibility in case of delegation \\[Answer Published\\] |\n| **Prepared by** | ESMA |\n| **Published by** | ESMA, in the ESMA Q&A tool |\n| **Reference** | ESMA_QA_1750 |\n| **Document type** | Q&A |\n| **Legal nature** | Not legislation |\n| **Addressees** | Not stated in the document |\n| **Dates** | Published 1 September 2017; question submitted 1 September 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**Issuer’s responsibility in case of delegation**\n\n### Question\n\nWhen does the issuer remain fully responsible under the second subparagraph of Article 18(2) of MAR for the compliance with the insider list requirements by persons acting on behalf or account of the issuer?\n\n***\n\n### Answer\n\n\\[ESMA70-145-111 MAR Q&A, Q&A 10.2\\]\n\nThe issuer remains fully responsible under the second subparagraph of Article 18(2) of MAR where it has requested another person to draw up and update the issuer’s insider list.\n\nThe issuer is not responsible for the fulfilment of the insider list requirements of the persons acting on its behalf or account mentioned in Article 18(1) of MAR and first subparagraph of Article 18(2) (e.g. advisors and consultants) who are personally responsible for the obligation to draw up, update and provide to the NCA upon request their own insider list.\n\nWhere the person that was tasked draw up and update the issuer’s insider list under the second subparagraph of Article 18(2) of MAR is also a person acting on behalf or account of the issuer under Article 18(1) of MAR (e.g. advisors and consultants), that person will be responsible for the obligation to draw up, update and provide to the NCA upon request its own insider list. The issuer will remain responsible for complying with the insider list requirements in relation to its own insider list only.\n\n***\n\n**Source:** [ESMA original document](https://www.esma.europa.eu/publications-data/questions-answers/1750)\n"}