{"id":1162,"date":"2022-05-13T11:06:42","date_gmt":"2022-05-13T11:06:42","guid":{"rendered":"https:\/\/www.guiadoemitente.pt\/?p=1162"},"modified":"2026-08-17T11:55:51","modified_gmt":"2026-08-17T11:55:51","slug":"market-abuse-regulation","status":"publish","type":"post","link":"https:\/\/www.guiadoemitente.pt\/en\/market-abuse-regulation\/","title":{"rendered":"Market Abuse Regulation (MAR)"},"content":{"rendered":"\n

Introduction<\/strong><\/p>\n\n\n\n

The Market Abuse Regulation establishes a regime across the entire European Union aimed at protecting investors, increasing transparency in financial markets, and sanctioning practices considered abusive.*<\/p>\n\n\n\n

*Regulation (EU) No 596\/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse.<\/p>\n\n\n\n

The Market Abuse Regulation creates a unified framework for the EU to address market abuse matters, to ensure an effective and coherent informational workflow across the member states, and seeks to increase market integrity and investor protection, enhancing the attractiveness of securities markets.<\/p>\n\n\n\n

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Context<\/strong><\/p>\n\n\n\n

Market efficiency has major importance for the well-functioning and credibility of markets. For a market to be efficient, all investors should have access to the same information and at the same time, allowing them to make their investment decisions in equal conditions and with trust. Additionally, the public disclosure of information increases Issuers’ visibility and credibility.<\/p>\n\n\n\n

Accordingly, MAR determines that the issuers must disclose inside information <\/strong>\u2013 information that is precise and material information (i.e., information that may impact the price of listed shares \/ bonds) related to the issuer or its financial instruments, which has not been made public. It is expected that the disclosure of inside information may  impact the price of the listed shares\/bonds, following the reaction of the investors. For example, the disclosure of new and positive information on the financial results of the issuer will, presumably, lead to a price increase of the shares (with everything else remaining constant).<\/p>\n\n\n\n

Please note that:<\/p>\n\n\n