ESMA_QA_1724
01/10/2018
Subject Matter
Delayed disclosure of inside information under Article 17(5) of MAR: NCA’s denial of consent
Original question
Where the NCA does not consent to the delay of disclosure under Article 17(5) of MAR, can a credit/financial institution resort to Article 17(4) of MAR?
ESMA Answer
01-10-2018
Original language
[ESMA70-145-111 MAR Q&A, Q&A 5.5]
No. Where the relevant conditions are not met, the NCA cannot consent to the delay under Article 17(5) of MAR and, according to Article 17(6) of MAR, the credit/financial institution will have to disclose the inside information immediately.
In that case, credit/financial institutions will not be able to resort to the delay of disclosure under Article 17(4) of MAR.
Status: Answer Published
Additional Information
Level 1 Regulation
Market Abuse Regulation (MAR) Regulation (EU) No 596/2014 - Market Intergrity
Topic
Inside information, public disclosure and delayed disclosure of inside information