{"release":{"id":"a4f2a0495fe55b47323883f82977a9b34ab66171ec9623e39925d3a7045b6c81","published":"2026-11-01T16:41:30Z","pinned":false},"limits":{"coverage":{"history":"from:2021-01-01","held_since":"2021-01-01","gaps":[],"covered":["MAR L1"],"not_covered":["national guidance","court decisions"]},"freshness":{"release_id":"a4f2a0495fe55b47323883f82977a9b34ab66171ec9623e39925d3a7045b6c81","release_published":"2026-11-01T16:41:30Z","checked_at":"2026-11-01","checked_against":"EUR-Lex"},"truncation":null,"failures":[],"incomplete":[]},"page":{"path":"/mar/recitals/55","url":"https://www.headlesslaw.com/mar/recitals/55","title":"Recital 55","family":"l1_recital_view","work_id":"mar","view_of":"/mar/recitals","status":"in_force","force_status":"in_force","date_state":"current","requested_date":null,"as_of":"2026-11-01","applies_from":null,"application":null,"version_label":"Regulation (EU) No 596/2014, OJ L 173, 12.6.2014","check":{"against":"EUR-Lex","on":"2026-11-01"},"check_result":"matched","official_url":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32014R0596","valid_from":"2021-01-01","valid_until":null,"content_id":"93b7e092194f365f","versions":["2021-01-01"],"version_url":"https://www.headlesslaw.com/mar/recitals/55/versions/2021-01-01","revision_url":"https://www.headlesslaw.com/mar/recitals/55/versions/2021-01-01/rev/93b7e092194f365f","versions_url":"https://www.headlesslaw.com/mar/recitals/55/versions","relations_url":"https://www.headlesslaw.com/mar/recitals/55/relations","act_url":"https://www.headlesslaw.com/mar/recitals","source_line":null,"attribution":null,"context":{"act":{"work_id":"mar","path":"/mar/recitals","name":"MAR","number":"Regulation (EU) No 596/2014","celex":"32014R0596","title_official":null,"document_date":null},"position":{"kind":"recital","key":"55","index":55,"articles":89,"annexes":0},"prev":{"path":"/mar/recitals/54","key":"54","title":"Recital 54"},"next":{"path":"/mar/recitals/56","key":"56","title":"Recital 56"},"act_anchor":""}},"provenance":{"official_url":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32014R0596","check":{"result":"matched","checked_at":"2026-11-01","against":"EUR-Lex"},"repo_path":"spaces/mar/recitals.md","unit_text_sha256":"9e1f3ebec43dea9c68bb6bd1f5093a043c9f8ffe1541b8262efd25fe297c1c13","note":"the unit is a byte-exact part of the act page, whose check record covers it"},"unit":{"locator":"mar/recitals/rec/55","kind":"recital","key":"55","heading":"","text":"The requirement to disclose inside information can be burdensome for small and medium-sized enterprises, as defined in Directive 2014/65/EU of the European Parliament and of the Council, whose financial instruments are admitted to trading on SME growth markets, given the costs of monitoring information in their possession and seeking legal advice about whether and when information needs to be disclosed. Nevertheless, prompt disclosure of inside information is essential to ensure investor confidence in those issuers. Therefore, ESMA should be able to issue guidelines which assist issuers to comply with the obligation to disclose inside information without compromising investor protection.","marks":[],"text_hash":"9e1f3ebec43dea9c68bb6bd1f5093a043c9f8ffe1541b8262efd25fe297c1c13","revision":1,"blocks":[{"locator":"mar/recitals/rec/55/block/1","text_hash":"9e1f3ebec43dea9c68bb6bd1f5093a043c9f8ffe1541b8262efd25fe297c1c13","revision":1}]}}