Final report on the MAR Guidelines on delay in the disclosure of inside information
The Neural Herald summary, AI-generated
Notice on the use of AI. In compliance with Article 50(4) of Regulation (EU) 2024/1689 on Artificial Intelligence (AI Act), we disclose that the summaries, explanations and translations published by The Neural Herald are generated with artificial intelligence and published without prior human review. The linked official documents belong to each body and were not generated by our AI. Our summaries may contain errors: always check the original document.
ESMA completes its review of the MAR guidelines on delaying the disclosure of inside information. It adds five new legitimate interests that may justify a delay and removes those linked to protracted processes, since from June 2026 such information no longer has to be disclosed before the process is completed.
Key points
- New cases: request from a public authority, need to gather further information, risk of losing a business opportunity, key appointments at risk and prejudice arising from information on other group companies.
- Legitimate interests related to protracted processes are removed.
- The list remains non-exhaustive.
Who is affected
Listed issuers and their compliance functions; national authorities such as the CNMV.
Deadlines
Applicable from their publication in the 24 official languages on ESMA's website.
Plain-language version
ESMA, the EU's stock market watchdog, has updated when a listed company may delay announcing news that would move its share price, known as inside information. It adds five new reasons, such as a request from a public authority or the risk of losing a business opportunity. It matters because until the news is public, nobody should use it to buy or sell shares.
Read the original document →
Prompt for your AICopies a ready-to-paste prompt for ChatGPT, Claude or Gemini: it asks the model to read the official document and not to make anything up.
Summary produced with artificial intelligence from the official publication. It may contain errors: always check the original document.
More from ESMA
- 11 November 2026Market makers and authorised primary dealers who are using the exemption under the SSR - XLS
- 11 November 2026Market makers and authorised primary dealers who are using the exemption under the SSR - PDF
- 10 November 2026List of designated authorities, payment systems and securities settlement systems
- 9 November 2026Register of authorised European long-term investment funds (ELTIFs)
- 9 November 2026EU seeks nominations for stakeholder group on tokenisation standards in finance
- 9 November 2026Call for nominations for the European Tokenisation Standards Group