Date: 02 June 2016

On 1st April 2016, the European Securities and Markets Authority (ESMA) published an updated Questions and Answers (Q&A) on the common operation of the Market Abuse Directive "MAD".

The purpose of this document is to promote convergent implementation and application of the market abuse regime by providing responses to specific issues raised by the general public, market participants or competent authorities. The content of this document is aimed at competent authorities to ensure that in their supervisory activities their actions are converging along the lines of the responses adopted by ESMA and at helping issuers, investors and other market participants by providing clarity on existing market abuse requirements, rather than creating an extra layer of requirements.