Consultation Paper - Draft technical advice on possible delegated acts concerning the Market Abuse Regulation (MAR)

Consultation Paper - Draft technical advice on possible delegated acts concerning the Market Abuse Regulation (MAR)

from 15 July 2014 to 15 October 2014


Who should read this paperThis paper may be specifically of interest to any investor that deals in financial instruments and emission allowances subject to the Market Abuse Regulation, issuers of instruments in the scope of the Regulation, financial intermediaries, operators of trading venues and participants in the emission allowance market.Responding to this ConsultationThe European Securities and Markets Authority (ESMA) invites comments on all matters set out in this consultation paper and, in particular, on the specific questions listed in Annex I. Comments are most helpful if they:

respond to the question stated;
contain a clear rationale; and
describe any alternatives ESMA should consider.

Please use this “form to reply” and save it under the proposed format (please see the proposed file name format below).Instructions
Please note that, in order to facilitate analysis of the large number of responses expected, ESMA will be using an IT tool that does not allow processing of responses which do not follow the formatting indications described below. Therefore, in responding stakeholders should:

use the published template and send their responses in Word format;
not remove the tags of type   i.e. the response to one question has to be framed by the 2 tags corresponding to the question; and
if they have no response to a question, not delete it and leave the text “TYPE YOUR TEXT HERE” between the tags.

Naming protocol - In order to facilitate the handling of stakeholders responses please save your document using the following format:ESMA_MAR_CP_TA_NAMEOFCOMPANY_NAMEOFDOCUMENT: e.g.if the respondent were ESMA, the name of the reply form would be ESMA_MAR_CP_TA_ESMA_REPLYFORM or ESMA_MAR_CP_TA_ESMA_ANNEX1The closing date for the submision of responses is Wednesday 15 October 2014.All contributions should be submitted online at under the heading ‘Your input/Consultations’.Publication of responsesAll contributions received will be published following the end of the consultation period, unless otherwise requested. Please clearly and prominently indicate in your submission any part you do not wish to be publically disclosed. A standard confidentiality statement in an email message will not be treated as a request for non-disclosure. Note also that a confidential response may be requested from us in accordance with ESMA’s rules on access to documents. We may consult you if we receive such a request.Any decision we make is reviewable by ESMA’s Board of Appeal and the European Ombudsman.Data protectionInformation on data protection can be found at under the heading Legal Notice.

Documents available for this Consultation
21/08/20142014/808 response formResponse form to the CP on technical advice under the Market Abuse Regulation (MAR)
15/07/20142014/808Consultation Paper - Draft technical advice on possible delegated acts concerning the Market Abuse Regulation (MAR)


Activity Institution Download
BATS Chi-X Europe
VCI - German Chemical Industry Association
BDI - Federation of German Industries
VIK Verband der Industriellen Energie- und Kraftwirtschaft e.V.
Deutsche Börse Group
Asset Management Alternative Investment Management Association (AIMA)
Asset Management Investment Management Association
Banking Association of Danish Mortgage Banks and Danish Mortgage Banks' Federation (joint response)
Banking Deutsche Bank
Banking Bundesverband deutscher Banken
Banking German Banking Industry Committee
Banking European Savings and retail Banking Group (ESBG)
Banking British Bankers Association (BBA)
Banking Association for Financial Markets in Europe
Banking Banking and Payments Federation Ireland (BPFI)
Banking Czech Banking Association
Banking Dutch banking Association ("NVB")
Banking Spanish Banking Association
Banking ING Bank
Government, Regulatory and Enforcement CNMV's Advisory Committee
Investment Services Swedish Investment Fund Association
Investment Services Swedish Securities Dealers Association
Investment Services AMAFI - Association française des marchés financiers
Issuers The Quoted Companies Alliance
Issuers SABMiller plc
Issuers Polish Association of Stock Listed Companies
Issuers EuropeanIssuers
Issuers Deutsches Aktieninstitut
Issuers Association belge des Sociétés Cotées (ABSC)
Legal and Accountancy Joint Working Group of the Company Law Committees of the City of London Law Society and the Law Society of England & Wales
Legal and Accountancy GC100
Others Capita Asset Services
Others Forbidden Technologies plc
Others FIA Europe
Others CFA Institute
Others Commodities Markets Council - Europe
Others Statoil ASA
Others Norges Bank
Others Wirtschaftsvereinigung Stahl (German Steel Federation)
Others Cefic - The European Chemical Industry Council
Others AFEP
Others GDF SUEZ S.A.
Others Nordic Financial Unions
Others European Federation of Energy Traders (EFET)
Others Energie-Nederland (association of energy companies in NL)
Others FIA European Principal Traders Association
Others EDF SA and EDF Trading
Others Louis Dreyfus Commodities Suisse SA
Others HeidelbergCement AG
Others CEMBUREAU, the European Cement Association
Others ISDA
Insurance, pension & asset management Eumedion Corporate Governance Forum
Regulated markets, exchanges & trading systems Euronext
Regulated markets, exchanges & trading systems IETA
Regulated markets, exchanges & trading systems Nasdaq