ESMA · ESMA_QA_1745 Answer Published

Recommendations on multiple issuers

Regulation
Market Abuse Regulation (MAR) Regulation (EU) No 596/2014 - Market Intergrity
Topic
Investment recommendations and statistics and disclosure of information on the media
Submitted
2017-01-27
Answered
2017-01-27

Question

How does Commission Delegated Regulation (EU) 2016/958 apply when the subject of the recommendation relates to multiple issuers independently?

Answer

[ESMA70-145-111 MAR Q&A, Q&A 8.9] When a recommendation refers to several issuers independently, for example as part of sectorial research, the requirements would apply independently to every issuer that is the subject of the recommendation.

This Q&A is published by European Securities and Markets Authority and is non-binding. It does not constitute legal advice. Updated weekly from official ESA sources.

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