On 14 March 2016, we blogged that the Chair of the European Parliament’s Economic and Monetary Affairs Committee, Roberto Gualtieri, had written to the European Commission and the Council of the EU notifying them that the objection period for three Delegated Regulations supplementing the Market Abuse Regulation (MAR) had been extended to three months. The basis for the extension was that the Delegated Regulations were not the same as the draft regulatory technical standards (RTS) produced by the European Securities and Markets Authority.
There has now been published further letters from Mr Gualtieri stating that the objection period for two more Delegated Regulations under MAR will be extended to three months. These are:
- Commission Delegated Regulation of 09.03.2016 supplementing MAR with regard to RTS for the appropriate arrangements, systems and procedures as well as notification templates to be used for preventing, detecting and reporting abusive practices or suspicious orders or transactions; and
- Commission Delegated Regulation of 09.03.2016 supplementing MAR with regard to RTS for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest.
The letters state that the objection period for the above Delegated Regulations will now run until 9 June 2016.
View Letter to Mr Hill, Commissioner for Financial Stability, Financial Services and Capital Markets Union, 17 March 2016
View Letter to Ambassador Pieter de Gooijer Chair of COREPER II, 17 March 2016