Issuers and emission allowance market participants are required to notify their persons discharging managerial responsibilities of their obligations under the legal requirements set out in Article 19 of the MAR in writing. The issuers and emission allowance market participants must draw up a list of the persons discharging managerial responsibilities and persons closely associated with them (second sentence of the first subparagraph of Article 19(5) of the MAR).

Persons discharging managerial responsibilities must notify the persons closely associated with them of their obligations under Article 19 of the MAR in writing and must keep a copy of this notification. “In writing” in this context does not mean “written form” within the meaning of section 126 of the BGB, but a form that ensures durable documentation and availability.

It is not necessary to inform persons if, based on the guidance under section II.1.2.4, there is no notification obligation or if, based on their corporate purpose, closely associated legal persons (second sentence of Article 19(5) in conjunction with subpoint (d) of point (26) of Article 3(1) of the MAR) are not able to trade in financial instruments of the issuer, or this is not provided for. Equally, it is not necessary to include (group) companies that are not allowed by their corporate purpose to conduct transactions in financial instruments of the issuer in the list to be drawn up under the second sentence of subparagraph 1 of Article 19(5) of the MAR.

When drawing up the list in accordance with the second sentence of the first subparagraph of Article 19(5) of the MAR, it is sufficient to document the name, as long as this information is sufficient to clearly identify the person in question (if the person discharging the managerial responsibilities and the closely associated person have the same name, some other identifying feature should be added, such as the date of birth).