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Part B Commentary, 4 ESMA and Competent Authorities, Art.27: Professional secrecy

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 — Regulated activities — European Securities and Markets Authority (ESMA)

This chapter covers the provisions of Article 27. This Article governs the question of professional secrecy in relation to confidential information received, exchanged, or transmitted pursuant to the Market Abuse Regulation (MAR). Paragraph 2 of Article 27 defines the information that is subject to professional secrecy. Here, information is deemed confidential within the meaning of this provision if it concerns business or operational conditions and other economic or personal affairs. Addressees of the obligation relating to professional secrecy are, according to Article 27(3), all persons who work for the competent authority, any other authority or a market operator to whom powers of the competent authority have been delegated.

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