What Is Article 16(2) of the EU Market Abuse Regulation (MAR)?

Learn about Article 16(2) of the EU Market Abuse Regulation, which governs professional secrecy and information confidentiality under MAR.

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Article 16(2) of the EU Market Abuse Regulation (MAR) concerns the professional secrecy obligation. It stipulates that ESMA, competent authorities, and any natural or legal persons who, while acting on behalf of these entities, carry out activities under MAR, shall not disclose information they have acquired through their duties, except in specific circumstances outlined within the regulation. This ensures the confidentiality of information against unlawful disclosure.

FAQs & Answers

  1. What does Article 16(2) of the EU MAR cover? Article 16(2) of the EU Market Abuse Regulation addresses the professional secrecy obligation, requiring those acting under MAR to keep acquired information confidential except in specified circumstances.
  2. Who is bound by the professional secrecy obligation under Article 16(2) EU MAR? ESMA, competent authorities, and any natural or legal persons acting on their behalf who perform activities under MAR are bound by the professional secrecy obligation.
  3. Why is the professional secrecy obligation important in MAR? It ensures that sensitive information acquired during regulatory duties is protected against unlawful disclosure, maintaining market fairness and integrity.
  4. Can information acquired under MAR be disclosed? Information can only be disclosed under specific circumstances defined in the regulation; otherwise, it must remain confidential as per Article 16(2).

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