The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has launched a consultation paper proposing changes to the format for drawing up and updating insider lists, as part of the Listing Act amendments to the Market Abuse Regulation (MAR).
The Listing Act mandates ESMA to review the Implementing Technical Standards (ITS) on insider lists to extend the simplified format – currently used by issuers on Small and Medium Enterprises (SME) Growth Market – to all issuers.
The proposed changes aim at reducing the administrative burden on issuers required to draw up and maintain insider lists under MAR.
Next Steps
The consultation will remain open until 3 June 2025. Based on the feedback received, ESMA will finalise the ITS and submit them to the European Commission (EC) in Q4 2025.
Further information:
Cristina Bonillo
Senior Communications Officer
press@esma.europa.eu
