Listing Act: The new regime for the disclosure of inside information enters into force from 5 June 2026
Spain -
The reform of MAR introduced by the Listing Act eliminates the obligation to disclose intermediate steps in protracted processes and establishes a more objective criterion for delaying disclosure, based on the contrast with the issuer's previous public announcements.
The Listing Act (Regulation (EU) 2024/2809) has amended, among other matters, the regime for the disclosure of inside information laid down in Regulation (EU) No 596/2014 on market abuse (MAR). The objective is to reduce administrative burdens and provide greater legal certainty for issuers and investors by:
- excluding intermediate steps in protracted processes from the disclosure obligation, provided that the issuer ensures confidentiality; and
- clarifying the conditions under which disclosure may be delayed.
The summary of the new regime, which enters into force on 5 June 2026, is available via this link.
Contacts
