Regulatory Alerts2025-10-09
Guidelines for Issuers Conducting Buybacks of Own Shares on a Regulated Market
The Croatian Financial Services Supervisory Agency (Hanfa) issued these guidelines to clarify the requirements for issuers conducting share buybacks on the regulated market, specifically regarding the safe harbour regime under the Market Abuse Regulation. The document details the conditions for utilizing the safe harbour exemption, including permissible purposes, pre-trade and ongoing reporting obligations, and specific trading constraints such as price and volume limits. It also provides recommendations for issuers not using the safe harbour regime to implement internal measures and procedures to demonstrate the legitimacy of their transactions and avoid market abuse allegations.
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