Art. 18

in force 2026-06-05 MODIFIED±0§

Amended by Regulation (EU) 2024/2809 32024R2809

applies from: unknown

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in force 2024-12-04 MODIFIED§

Amended by Regulation (EU) 2024/2809 32024R2809

applies from: unknown (the text changed beyond its dates, so no date that moved can be read as the application date)

dates added to the text: 2025-09-05 · dates removed: 2016-07-03

In paragraph 6, the cross-reference to persons covered was rephrased from citing 'point (a) of paragraph 1' to citing 'paragraph 1, point (a)', without altering which persons are referenced.

Paragraph 9 no longer instructs ESMA to develop draft implementing technical standards on the precise format of insider lists and their updates by 3 July 2016, and instead instructs ESMA to review the implementing technical standards on the alleviated format for SME growth market issuers so as to extend that format to all insider lists referred to in paragraph 1 and in paragraph 6, first and second subparagraphs, submitting those draft standards to the Commission by 5 September 2025.

The reference in the third subparagraph of paragraph 9 to 'the implementing technical standards referred to in the first subparagraph' remains, but it now points to the review-and-extension mandate rather than to the original standard-setting mandate.

Cited: Art. 18, v2 · Art. 18, v1

text before / after, on the event page →

in force 2021-01-01 MODIFIED§

Amended by Regulation (EU) 2019/2115 32019R2115

applies from: unknown (the text changed beyond its dates, so no date that moved can be read as the application date)

dates added to the text: 2020-09-01

Paragraphs 1, 2, 4 and 5 now describe issuers and any person acting on their behalf or on their account as each individually bearing the listed duties, rather than referring to them collectively, and paragraph 2 rephrases how another person comes to draw up and update the issuer's list while the issuer's right of access is described as covering the list that other person is drawing up.

Paragraph 6 no longer exempts SME growth market issuers from drawing up an insider list at all; instead it entitles them to include only persons with regular access to inside information due to their function or position, allows Member States to require inclusion of all persons under point (a) of paragraph 1 in specified circumstances, requires such lists to be provided to the competent authority on request, and adds an ESMA implementing-standards process with a submission deadline of 1 September 2020 and a delegated Commission power, replacing the former two-condition exemption text.

Cited: Art. 18, v1 · Art. 18, v2

text before / after, on the event page →