MAR’s inside information rules continue to cause headaches

Author: Jimmie Franklin | Published: 27 Feb 2020

The EU’s Market Abuse Regulation (MAR) is still causing problems for listed companies under its scope.

This is largely due to the burden posed by its vast reporting requirements. Market participants have mixed views about whether it is yet business-as-usual for listed companies.

"MAR no longer commands my daily attention, though issues are still raised," said Joakim Mansson, general counsel at listed housing developer Bonava. "Upon implementation the attention we had to pay to the insider rules and assessments, as well as the practical admin around the rules, was significant."

He added that he still receives internal questions surrounding inside information and individuals. In his view, the most difficult rules to apply in a sensible and consistent way are exactly what events are considered price-sensitive, and managing the timing of press releases and logbooks, particularly if the event in question is sufficiently likely to occur. "I think certain key...