Topic Information obligations for issuers Reference to issuers
Article from Issuer Guidelines published by the Federal Financial Supervisory Authority
Persons discharging managerial responsibilities and persons closely associated with them are obliged to notify emission allowance market participants or issuers (points (20) and (21) of Article 3(1) of the MAR) of shares or debt instruments or derivatives or other financial instruments linked to them if one of the following criteria is met for at least part of those financial instruments:
- admission to trading on a regulated market (point (21) of Article 4(1) of Directive 2014/65/EU) has been approved,
- application has been made to admit the financial instruments to trading on a regulated market,
- traded only on a multilateral (point (22) of Article 4(1) of Directive 2014/65/EU) or an organised (point (23) of Article 4(1) of Directive 2014/65/EU) trading facility, provided that the issuer has had them admitted to trading or, in the case of trading only on a multilateral trading facility, have had them admitted to or have requested admission to trading.1
Notifications under Article 19 of the MAR must be made public by the issuer or emission allowance market participant (see section II.3).
Footnotes:
- 1 See section I.3.2.1.1, third and fourth paragraphs for guidance on what is understood to be a multilateral or organised trading facility, and when the issuer has approved trading there.
