MAR: Delegated Regulations (EU) 2026/788 and 2026/789 published in the OJEU
On 16 July 2026, Delegated Regulations (EU) 2026/788 and 2026/789 were published in the Official Journal of the European Union, forming part of the regulatory framework of Regulation (EU) 2014/596 (Market Abuse Regulation — “MAR”), implementing the amendments introduced by the so-called Listing Act.
Delegated Regulation (EU) 2026/788 amends Delegated Regulation (EU) 2016/522 with regard to:
- closed periods, extending the circumstances in which persons discharging managerial responsibilities may carry out transactions during such periods;
- the list of trading venues having a significant cross-border dimension for the purposes of market abuse supervision;
- market manipulation indicators, in order to align them with developments in trading practices and financial instruments.
Delegated Regulation (EU) 2026/789, by contrast, supplements MAR as regards the public disclosure of inside information in the context of protracted processes and delayed disclosure, introducing a non-exhaustive list of final events and circumstances that will enable issuers to identify with greater certainty the moment at which the disclosure obligation arises.
The new provisions are aimed at promoting a more uniform application of the European market abuse regime.