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ESMA issues MAR Q+A – with an important answer

ESMA yesterday issued a Questions and Answers document on the Market Abuse Regulation (MAR), which is effective from the 3rd July 2016. It can be found here. There is only one question and answer, which reminds market participants that the monitoring obligation found in Article 16(2) of MAR apply to a wide variety of firms, including “Persons Professionally Arranging or Executing Transactions” (PPAETS), even if they are not financial companies under MiFID and not directly supervised  by financial regulators.

The “PPAET” is widely defined, more so than the “PPAT” under REMIT. This document should serve as a reminder to energy and commodity market participants, to ensure that they have effective monitoring in place for the start of MAR.


About avivhandler

Aviv is the Managing Director of ETR Advisory, a niche consultancy focused on the regulation of the commodity, energy and financial markets. He has more than 23 years of experience in the financial, energy and commodity markets, covering regulatory compliance, credit, risk and financial technology. Prior to founding ETR, he was Partner at SunGard Global Services, where he built a Centre of Excellence in European Energy and Commodity Regulation. Before that, he founded Coherence, a consulting firm specializing in credit risk in commodity and energy trading as well as software product management. The credit practice ultimately became part of Sirius Solutions, where he was the Managing Director of Europe. He has also held management roles at KWI and Iris Financial, among other organizations. Mr. Handler holds a degree in computer science from Imperial College, University of London.


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