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Direct reporting to insider register to stop under new EU requirements

Today, as insider person, you can appoint Euroclear Sweden to report your security transactions directly to the insider register if you have been granted dispensation to do so by the Swedish Financial Supervisory Authority (FSA). When the new Market Abuse Regulation comes into effect on 3 July this year, this service will be suspended for a transitional period.

After 3 July, insider persons will therefore have to report securities transactions manually to the FSA. For more information on this, visit the website of the FSA.

Interim solution for managing logbook and insider's list

As we informed in our most recent newsletter in March, we will initially be able to offer an interim solution to support administration of logbook and insider´s list in accordance with the new requirements. We welcome pilot customers to test the service. Feedback received will be of considerable help in the design of our new, comprehensive service for insider reporting.

Initially, the interim solution will not include technical facilities for handling the transfer of data between Euroclear Sweden and the FSA, but our long-term aim is again to be able to offer insider persons a facility for automatic reporting of changes in holdings. We are working together with the FSA to find a way of achieving this and will revert with more information after the summer.

Facts

From 3 July 2016, the new Market Abuse Regulation, the amended Reporting Obligations for Certain Holdings of Financial Instruments Act, and detailed rules in the Commission’s delegated acts will all come into effect. The new regulatory framework seeks to extend the area of application of the insider-reporting system.

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