ICMA has published a ‘Q&A’ briefing note on the regulatory technical standards of MAR with respect to the presentation of investment recommendations and associated disclosure obligations.

It is likely that this will have far-reaching implications for investment firms and their employees for the way in which investment recommendations are presented to their clients, as well as how they are recorded and subsequently made available for clients. In turn, this could have an impact on the frequency and form of investment recommendations provided to buy-side firms.

The regulation came into force on 3 July 2016.

To view the briefing note, click here.

For more information about MAR in relation to ICMA’s Primary Market work programme click here.


Andy Hill
Managing Director, Head of Market Practice; Secretary to the Secondary Market Practices Committee and also responsible for overseeing repo policy; Member of the ICMA Executive Committee
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