29 June 2016 by Conor Ryan
On 3 July 2016, the existing Irish laws and regulations governing “market abuse” (consisting of insider dealing, market manipulation and the unlawful disclosure of inside information) will be replaced with a new regime, consisting of a single and directly effective EU wide Market Abuse Regulation (MAR).
Some of the changes to the existing market abuse regime will include:
It’s an even bigger change for ESM listed companies who will be subject to these market abuse rules for the first time!
It is therefore important that company secretaries of Irish listed entities (Main Market and ESM) ensure that their board and senior management understand their enhanced obligations under MAR and that updated procedures and policies such as those relating to share dealing, insider lists and inside information are in place by 3 July.