Regulatory Alerts2022-04-13
ESMA Guidelines on delay in the disclosure of inside information and interactions with prudential supervision
The European Securities and Markets Authority issued guidelines to ensure consistent application of the Market Abuse Regulation regarding the delay of inside information disclosure and interactions with prudential supervisors. The document provides a non-exhaustive list of legitimate interests allowing issuers to postpone disclosure, such as ongoing negotiations or grave financial danger, while defining situations where delay would mislead the public. Additionally, it clarifies that Pillar 2 Capital Requirements and Guidance generally constitute inside information for supervised institutions due to their precise and price-sensitive nature.
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