On 21 September 2026, the European Commission (Commission) published for consultation a draft Delegated Regulation amending the regulatory technical standards (RTS) laid down in Commission Delegated Regulation (EU) 2016/1052 as regards the conditions applicable to buy-back programmes and stabilisation measures.

Background

The European Securities and Markets Authority sent a Final Report on the draft RTS to the Commission in February 2026. When revising the draft RTS, the Commission took into account requests received from some Member State competent authorities (NCAs) to extend the changes applicable to buy-back transactions to the regime for the reporting and public disclosure of stabilisation measures. 

Draft RTS

Article 1 of the draft Delegated Regulation sets out the amendments to Delegated Regulation (EU) 2016/1052, more specifically, amendments to:

  • Article 2(2), to specify that issuers should report buy-back transactions to the NCA of the most relevant market in terms of liquidity in aggregated form.
  • Article 2(3), to specify, in line with amendments to Article 5 of the Market Abuse Regulation, that the adequate disclosure of buy-back transactions entails a requirement to disclose those transactions in aggregate form.
  • Articles 6(2) and (4), to align the requirements in relation to the disclosure and reporting of stabilisation transactions with those for disclosure and reporting of buy back transactions, i.e. allowing disclosure and reporting in aggregated form and allowing reporting only to the NCA of the most relevant market in terms of liquidity for the instruments concerned, with an obligation for that authority to forward, upon request, the information to the competent authority of each trading venue on which those instruments have been admitted to trading and are traded.

Next steps

The deadline for comments on the draft Delegated Regulation is 19 October 2026.