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Part B Commentary, 4 ESMA and Competent Authorities, Art.24: Cooperation with ESMA

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

Improper disclosure — Market abuse — Market Abuse Directive (MAD) — Regulated activities — European Securities and Markets Authority (ESMA)

This chapter lays down the duties for competent authorities to cooperate with ESMA in Article 24. Article 24(1) obliges the competent authorities of the Member States to cooperate with European Securities and Markets Authority (ESMA). The cooperation with ESMA has to comply with the ESMA Regulation (1095/2010/EU) and guarantee effective and uniform compliance with the Market Abuse Regulation. Article 24(2) stipulates that the national competent authorities are to provide ESMA all information necessary to fulfil its duties in accordance with Article 35 ESMA Regulation (1095/2010/EU). Furthermore, this Article seeks to ensure uniform conditions of its application. To this end, ESMA is obliged to develop implementing technical standards (ITS) and power is conferred on the Commission to adopt the ITS.

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