Possible roadblocks on MAR disclosure duties

Author: | Published: 11 Dec 2018

A survey by Hengeler Mueller has found that a majority of respondents reported an increase in the bureaucratic requirements associated with the EU regulation 

Two years after it came into effect, the Market Abuse Regulation (MAR) hasn't yet led to greater legal certainty, but rather decreased clarity in areas such as ad hoc disclosure duties (ad hoc Publizität). At the same time, while the bureaucratic hurdles faced by issuers have increased, investor protection has not improved. These are the key findings of a survey conducted by Hengeler Mueller and Deutsches Aktieninstitut, an association that represents the interests of publicly-traded companies, banks, stock exchanges and investors, among issuers whose securities are traded on a German stock exchange. The complicated ad hoc rules not only cause uncertainty among companies, in the mid to long-term, but could also develop into a considerable disadvantage for Germany as a jurisdiction in which to undertake...