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Aspects of Market Abuse Regulation affected by proposed change to MIFID II date

By March 9, 2016March 16th, 2016News

The Market Abuse Regulation (MAR) refers to concepts that will be introduced by MiFID II, such as organised trading facilities (OTFs), small and medium-sized enterprise (SME) growth markets, and emission allowances or auctioned products based on them. MAR states that its provisions will not apply to those concepts until 3 January 2017. This was the scheduled date of entry into application of MiFID II. However, on 10 February 2016, the European Commission published a draft directive to delay this by 12 months to 3 January 2018. The Commission has, therefore, also published a draft regulation to amend, amongst other things, MAR, so that its provisions will not apply to the above concepts until 3 January 2018.

Source: Hogan Lovells

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