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LU - CSSF publishes circular on market soundings under MAR

01/01/2017

On 11 January 2017, the CSSF has issued a circular 17/648 on the ESMA guidelines on persons receiving market soundings under the EU Market Abuse Regulation.

On 11 January 2017, the CSSF has issued a circular 17/648 on the ESMA guidelines on persons receiving market soundings under the EU Market Abuse Regulation. The Circular is addressed to all market participants, in particular persons receiving market soundings, and sets out:

  • factors that such persons have to take into account when information is disclosed to them as part of a market sounding in order to assess whether the information constitutes inside information;
  • steps that such persons should take if inside information has been disclosed to them
  • and records that should be maintained in order to demonstrate compliance with MAR.

The Circular entered into force on 11 January 2017.

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