ESMA seeks input to streamline and simplify its market abuse guidelines

https://www.esma.europa.eu/press-news/esma-news/esma-seeks-input-streamline-and-simplify-its-market-abuse-guidelines
Success
Service Payment Network System 5% Card Networking System 3%
Specialism Regulatory Reporting 15% Data Governance 10%
2026-02-19 11:24:12 · adavies@vixio.com
ID
2888148
GUID
177e5b26d9b8319027df500ac56743dc

Classification

Service
Payment Network System (5%)

This update concerns market abuse regulation and insider trading disclosure requirements for securities issuers, which falls entirely outside the payments compliance taxonomy.

Card Networking System (3%)

No secondary tag from the payments taxonomy appropriately applies to securities market abuse regulation and insider information disclosure rules.

Specialism
Regulatory Reporting (15%)

This update concerns securities market abuse regulation and insider trading disclosure requirements, which falls outside the payments compliance taxonomy and is not relevant to payment service providers, payment systems, or payment-specific regulatory obligations.

Data Governance (10%)

While the update involves disclosure obligations, these are securities-specific insider information requirements rather than payment transaction reporting or payment firm regulatory reporting obligations.

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TITLE: European Securities and Markets Authority Streamlines Market Abuse Regulation Guidelines on Inside Information Disclosure BODY: On February 19, 2026, the European Securities and Markets Authority (ESMA) launched a consultation proposing amendments to its Market Abuse Regulation (MAR) guidelines concerning the delay in disclosure of inside information. The proposals align ESMA's guidelines with the disclosure regime as amended by the Listing Act, reducing administrative burdens on issuers while providing clearer requirements. From June 2026, issuers will no longer be required to immediately disclose inside information related to protracted processes before their completion. ESMA proposes removing from its current guidelines the legitimate interests for delayed disclosure connected to such protracted processes. The authority identifies additional legitimate interests for delaying disclosure, including situations where a public authority requests non-disclosure of inside information, where the issuer requires more time to collect information, or where the issuer is involved in several procurement processes for similar contracts. ESMA also proposes eliminating the section addressing the "no misleading the public" condition, as the Listing Act removed this requirement from MAR. Instead, the Listing Act requires that delayed disclosure must not contradict the issuer's latest public announcement on the same matter. These amendments aim to simplify compliance requirements for issuers while maintaining market integrity and investor protection standards under the revised regulatory framework. Interested stakeholders are invited to respond to the Consultation Paper by April 29, 2026. Following review of responses, ESMA will publish a final report in Q4 2026. **Reference:** ESMA Consultation Paper on MAR Guidelines on Delay in the Disclosure of Inside Information (ESMA74-268544963-1567)
  • ✓ Scraped:2026-02-19 11:24:12
  • ✓ Created:2026-02-19 11:24:12
  • ✓ By:adavies@vixio.com (41)