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Part 3 · Market Abuse Supervision › Section 26

Transmission of inside information and of managers' transactions; authorisation to issue statutory instruments

(1) A domestic issuer, an MTF issuer or an OTF issuer that is obliged, under Article 17(1), (7) or (8) of Regulation (EU) No 596/2014, to publish inside information, must, before its publication, notify it to the managements of the trading venues on which its financial instruments are admitted to trading or traded, and must, simultaneously with publication, transmit it to the body responsible for the company register for entry in the company register and forwarding to the central European access point, and must, without delay after publication, transmit it to the Bundesanstalt.
(2) A domestic issuer, an MTF issuer or an OTF issuer that is obliged, under Article 19(3) of Regulation (EU) No 596/2014, to publish information on managers' transactions, must, simultaneously with publication, transmit that information to the body responsible for the company register for entry in the company register and forwarding to the central European access point, and must notify the publication to the Bundesanstalt.
(3) Where the issuer breaches the obligations under subsection (1) or under Article 17(1), (7) or (8) of Regulation (EU) No 596/2014, it is liable to another only under the conditions of sections 97 and 98 for the resulting damage. Claims for damages based on other legal grounds remain unaffected.
(4) The Federal Ministry of Finance may, by statutory instrument not requiring the consent of the Bundesrat, adopt further provisions on 1. the minimum content, nature, language, scope and form of a notification under subsection (1) or (2), 2. the minimum content, nature, language, scope and form of a publication under Article 17(1), (2) and (6) to (9) of Regulation (EU) No 596/2014, 3. the conditions that an issuer or a market participant in emission allowances must satisfy, under Article 17(4), first subparagraph of Regulation (EU) No 596/2014, in order to delay disclosure of inside information, 4. the manner of transmission and the minimum content of a notification under Article 17(4), third subparagraph, first sentence, and (6), first subparagraph, first sentence, of Regulation (EU) No 596/2014, 5. the manner of transmission of an insider list under Article 18(1), letter c) of Regulation (EU) No 596/2014, 6. the manner and language of transmission of a notification under Article 19(1) of Regulation (EU) No 596/2014, and 7. the content, nature, scope and form of an additional publication of the information referred to in Article 19(3) of Regulation (EU) No 596/2014 by the Bundesanstalt under Article 19(3), third subparagraph of Regulation (EU) No 596/2014. The Federal Ministry of Finance may transfer this authorisation, by statutory instrument, to the Bundesanstalt.

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