{"release":{"id":"a4f2a0495fe55b47323883f82977a9b34ab66171ec9623e39925d3a7045b6c81","published":"2026-11-01T16:41:30Z","pinned":false},"limits":{"coverage":{"history":"current_only","held_since":"2019-03-29","gaps":[],"covered":["ESMA Q&A 1752 — Q&A — Emission allowances market participants (EAMPs) [Answer Published] L3"],"not_covered":["national guidance","court decisions"]},"freshness":{"release_id":"a4f2a0495fe55b47323883f82977a9b34ab66171ec9623e39925d3a7045b6c81","release_published":"2026-11-01T16:41:30Z","checked_at":"2026-10-26","checked_against":"the ESMA publication"},"truncation":null,"failures":[],"incomplete":[]},"page":{"path":"/mar/level-3/q-and-a/esma/esma-qa-1752-emission-allowances-market-participants-eamps-meaning-of","url":"https://www.headlesslaw.com/mar/level-3/q-and-a/esma/esma-qa-1752-emission-allowances-market-participants-eamps-meaning-of","title":"ESMA Q&A 1752 — Q&A — Emission allowances market participants (EAMPs) [Answer Published]","family":"l3","work_id":"spaces/mar/level-3/q-and-a/esma/esma-qa-1752-emission-allowances-market-participants-eamps-meaning-of","status":"answer published","force_status":null,"date_state":"current","requested_date":null,"as_of":"2026-11-01","applies_from":null,"application":null,"version_label":"ESMA Q&A register, 29 March 2019","check":{"against":"the ESMA publication","on":"2026-10-26"},"check_result":"matched","official_url":"https://www.esma.europa.eu/publications-data/questions-answers/1752","valid_from":"0001-01-01","valid_until":null,"revision":1,"content_id":"b118a8e0890fc89e","change_date":null,"nearest_versions":["2019-03-29"],"first_text_date":null,"correction_applies":false,"versions":["2019-03-29"],"version_url":"https://www.headlesslaw.com/mar/level-3/q-and-a/esma/esma-qa-1752-emission-allowances-market-participants-eamps-meaning-of/versions/2019-03-29","revision_url":"https://www.headlesslaw.com/mar/level-3/q-and-a/esma/esma-qa-1752-emission-allowances-market-participants-eamps-meaning-of/versions/2019-03-29/rev/b118a8e0890fc89e","versions_url":"https://www.headlesslaw.com/mar/level-3/q-and-a/esma/esma-qa-1752-emission-allowances-market-participants-eamps-meaning-of/versions","relations_url":"https://www.headlesslaw.com/mar/level-3/q-and-a/esma/esma-qa-1752-emission-allowances-market-participants-eamps-meaning-of/relations","source_line":"Answer by ESMA, published in its Q&A tool · not legislation · published 29 Mar 2019 [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":"2019-03-29","question_submitted_on":"2019-03-29","locators":{"published_on":"ESMA Q&A Excel export ESMA_QA_1752, column 'Esma responses', date line","question_submitted_on":"ESMA Q&A Excel export ESMA_QA_1752, column 'Date of submission'"}},"adoption":null}},"provenance":{"official_url":"https://www.esma.europa.eu/publications-data/questions-answers/1752","check":{"result":"matched","checked_at":"2026-10-26","against":"the ESMA publication"},"repo_path":"spaces/mar/level-3/q-and-a/esma/esma-qa-1752-emission-allowances-market-participants-eamps-meaning-of.md","body_sha256":"5ef268edf17e734500a68eec8393515ea8f4ebebaf83e9f4ae8d4aa0e27091da"},"units":[],"markdown":"---\ntitle: \"ESMA Q&A 1752 — Q&A — Emission allowances market participants (EAMPs) [Answer Published]\"\nshortTitle: \"ESMA Q&A 1752 — Q&A — Emission allowances market participants (EAMPs) [Answer Published]\"\nanswer_id: ESMA_QA_1752\ntopic: \"Other MAR-related topics\"\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: 29 March 2019\nsource_link: https://www.esma.europa.eu/publications-data/questions-answers/1752\nlifecycle: \"Answer Published\"\ntext_version: \"ESMA Q&A register, 29 March 2019\"\nsource_url: \"https://www.esma.europa.eu/publications-data/questions-answers/1752\"\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_1752: 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: \"2019-03-29\"\n  question_submitted_on: \"2019-03-29\"\n  locators:\n    published_on: \"ESMA Q&A Excel export ESMA_QA_1752, column 'Esma responses', date line\"\n    question_submitted_on: \"ESMA Q&A Excel export ESMA_QA_1752, column 'Date of submission'\"\nlifecycle_label: \"Answer Published\"\n---\n\n**Answer by ESMA, published in its Q&A tool · not legislation · published 29 Mar 2019 [Answer Published]**\n\n*Answer Published · ESMA Q&A register, 29 March 2019 · Checked against the ESMA publication on 26 Oct 2026 · [Official source](https://www.esma.europa.eu/publications-data/questions-answers/1752)*\n\n| | |\n|---|---|\n| **Full title** | ESMA Q&A 1752 — Q&A — Emission allowances market participants (EAMPs) \\[Answer Published\\] |\n| **Prepared by** | ESMA |\n| **Published by** | ESMA, in the ESMA Q&A tool |\n| **Reference** | ESMA_QA_1752 |\n| **Document type** | Q&A |\n| **Legal nature** | Not legislation |\n| **Addressees** | Not stated in the document |\n| **Dates** | Published 29 March 2019; question submitted 29 March 2019 |\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**Emission allowances market participants (EAMPs) - Meaning of ‘parent’ and ‘related undertaking’ in Article 17(2) of MAR**\n\n### Question\n\nWhat is the meaning of ‘parent’ and ‘related undertaking’ in Article 17(2) of MAR?\n\n***\n\n### Answer\n\n\\[ESMA70-145-111 MAR Q&A, Q&A 11.2\\]\n\nArticle 17(2) of MAR provides that an emission allowance market participant shall ”disclose inside information concerning emission allowances which it holds in respect of its business \\[...\\] or installations \\[...\\] which the participant concerned, or its parent undertaking or related undertaking, owns or controls or for the operational matters of which the participant, or its parent undertaking or related undertaking, is responsible, in whole or in part”.\n\nFor the purposes of defining the parent company, Article 30(2) of MAR refers to Directive 2013/34/EU. Article 2 points (9) and (10) of Directive 2013/34/EU define parent undertaking as “an undertaking which controls one or more subsidiary undertakings”, and a subsidiary undertaking as “an undertaking controlled by a parent undertaking, including any subsidiary undertaking of an ultimate parent undertaking”. Considering also that the definition of a group in Directive 2013/34/EU comprises the parent undertaking and all its subsidiary undertakings, ESMA considers that also ultimate parent undertakings are relevant for the purposes of Article 17(2) of MAR.\n\nWith reference to the related undertakings, ESMA’s reading is that: (i) in line with Article 4 of Regulation 1227/2011/EU (REMIT), related undertakings are “either a subsidiary or other undertaking in which a participation is held, or an undertaking linked with another undertaking by a relationship within the meaning of” current Article 22(7) of Directive 2013/34/EU, and (ii) for the purposes of Article 17(2) of MAR the relevant related undertakings are those of the parent undertaking of the EAMP.\n\n***\n\n**Source:** [ESMA original document](https://www.esma.europa.eu/publications-data/questions-answers/1752)\n"}