ESMA: Technical advice on possible delegated acts concerning the Market Abuse Regulation

ESMA’s technical advice to the EC discusses MAR market manipulation indicators, including examples of practices that may constitute market manipulation and “additional” indicators of market manipulation; recommends the minimum thresholds that exempt certain market participants in the emission allowance market from publicly disclosing inside information; suggests the way to determine to which regulator delays in disclosure of inside information needs to be notified. provides clarifications on the enhanced disclosure of managers’ transactions (including transactions that can be allowed by the issuer during a closed period) and proposes procedures and arrangements with regard to whistleblowing. ESMA’s regulatory technical standards regarding MAR are to be delivered in July 2015.