Consob provides information for notifications under Market Abuse Regulation

The Italian regulator Consob has published in relation to notifications under Market Abuse Regulation. From 3 July 2016 Regulation (EU) No. 596/2014 of the European Parliament and of the Council on market abuse (Market Abuse Regulation – MAR) is directly applicable in the entire European Union and the operators are obliged to comply with it fully.

Starting from the same date, in addition, thelevel 2 legislative acts, issued by the European Commission on the basis of the delegated powers contained in the MAR will be directly applicable. These are in the form of Regulatory Technical Standards or Implementing Technical Standards (RTSs or ITSs), which contain technical rules on the ways of fulfilling the obligations provided for.

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Several provisions of the MAR and of the related implementing measures require operators to provide, for various supervisory purposes, information and documents to the competent national authorities. In some cases these provisions require the national authority to indicate on its website the communication methods considered appropriate.

On first adoption of the new European rules, therefore, the Commission with Communication No. 0061330 of 1 July 2016, provides the indications on the ways of communicating the required information to Consob, in order to guarantee that the same is immediately available.

The Consob statement is available here, while the document that outlines the respective communication channels can be found here (in Italian).