Market Abuse Regulation (MAR)

Regulation (EU) No 596/2014 on market abuse (Market Abuse Regulation or MAR) establishes a unified framework to address insider dealing, unlawful disclosure of inside information, and market manipulation. Its objective is to safeguard the integrity of EU financial markets and enhance investor confidence by imposing robust preventive measures and regulatory obligations.

MAR applies to financial instruments admitted to trading on regulated markets, multilateral trading facilities (MTFs), or organised trading facilities (OTFs), as well as to instruments influencing or influenced by their price or value. These include derivatives such as credit default swaps and contracts for difference. The obligations under MAR encompass both actions and omissions regarding these instruments.

How CMS Luxembourg Can Help:

Our Capital Markets team provides comprehensive legal support to help you comply with MAR’s obligations. We assist in:

• preventing unlawful disclosure of inside information, insider dealing, or market manipulation.
• drafting, updating, and maintaining insider lists.
• managing reporting obligations such as for persons discharging managerial responsibilities (PDMRs).

We also offer tailored training sessions for employees and management to promote awareness of MAR compliance and the consequences of breaches, including potential sanctions.

For expert advice, contact Aurélien Hollard, José Ocana, Julie Pelcé, Georgios Kortesis, Stamatina Stylianopoulou or Romain Galand.