On 30th March 2016, the European Securities and Markets Authority (ESMA) opened a public consultation on draft guidelines under the Market Abuse Regulation (MAR).

ESMA is seeking views on its proposed non-exhaustive indicative list of information expected or required to be published on commodity derivatives markets or spot markets for the purposes of determining inside information regarding commodity derivatives and of triggering the prohibitions for insider dealing.

Under MAR, inside information in relation to commodity derivatives must relate to either the commodity derivatives themselves or to the related spot commodity contract. However, there is a wide variety of commodities markets and commodity derivatives markets which may require distinguishing between types of information specific to these markets. Therefore, ESMA is giving further consideration to the scope of the instruments or products concerned.

ESMA will consider all comments received by 20 May 2016.  All contributions should be submitted online at www.esma.europa.eu under the heading ‘Your input - Consultations’.

For Other Open Consultation Papers of Interest please see here.