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Part B Commentary, 1 General Provisions, Art.4: Notifications and list of financial instruments

Edited By: Marco Ventoruzzo

From: Market Abuse Regulation: Commentary and Annotated Guide (2nd Edition)

Edited By: Marco Ventoruzzo, Sebastian Mock

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2023. All Rights Reserved.date: 17 July 2024

Conduct of business regulation — Investment business — Market abuse — Market Abuse Directive (MAD) — Regulated activities — European Securities and Markets Authority (ESMA)

This chapter discusses Article 4, which contains the rules on notifications as well as guidelines on updating a list of financial instruments. Although the Market Abuse Regulation is directly applicable in all Member States, the European Securities and Markets Authority (ESMA) is the central administrative agency for its enforcement. Here, national (competent) authorities (NCAs) play a key role in its application. In addition, the Market Abuse Regulation also assigns several tasks to the market operators. To ensure a sufficient exchange of information between the market operators, the NCAs and ESMA, Article 4 sets out numerous notification requirements establishing a system for the centralization of all necessary information at ESMA.

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