The European Securities and Markets Authority (ESMA) has published a request for technical advice from the European Commission on implementing acts relating to the Market Abuse Regulation (MAR).
The Commission has invited ESMA to provide technical advice on the specification of procedures to enable reporting of actual or potential infringements of MAR to national competent authorities, which includes:
- the arrangements for reporting and for following up reports;
- measures for the protection of persons working under a contract of employment; and
- measures for the protection of personal data.
ESMA is requested to deliver the advice within eight months of MAR entering into force. An indicative timetable in the request for advice estimates that MAR will be published in the Official Journal of the EU (OJ) on 12 June 2014. It will enter into force on the twentieth day following its publication in the OJ. The timetable also states that the implementing acts should apply 24 months after MAR enters into force.