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Part B Commentary, 3 Disclosure Requirements, Art.17: Public disclosure of inside information

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: 23 July 2024

Improper disclosure — Insider dealing — Insider trading — Misleading impressions — Market abuse — Market Abuse Directive (MAD) — Regulated activities — European Securities and Markets Authority (ESMA)

This chapter turns to Article 17. This Article lays down the general legal regime of the so-called ‘ad hoc’, ‘continuous’, or ‘ongoing’ public disclosure of inside information, aimed at avoiding insider dealing and ensuring that investors are not misled. Breaches of disclosure and other requirements set out in Article 17 give rise to the general administrative measures and sanctions defined in Article 30 onwards. Article 17 is one of the cornerstone provisions of EU securities regulation. Its reach goes far beyond the mere preventative function of insider dealing induced by its inclusion in the Market Abuse Regulation as it forms the European legal general basis for ad hoc disclosure.

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