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CESR publishes second set of guidance on the implementation of the Market Abuse Directive, setting out a common understanding amongst its Members regarding treatment of different aspects of the MAD

12 Jul. 2007 - This guidance develops the common understanding amongst CESR Members of the following issues:

- What constitutes inside information?

- When is it legitimate to delay the disclosure of inside information?

- When does information relating to a client's pending orders constitute inside information?

- Insider lists in multiple jurisdictions

This guidance is accompanied by a press release and a feedback statement.