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Articoli Correlati: ESMA

On 13 April 2018, the European Securities and Markets Authority (ESMA) issued an opinion on the Accepted Market Practice (AMP) notified by the French Autorité des Marchés Financiers (AMF), which replaces the AMP under the Market Abuse Directive (MAD) established in March 2005. This specific price refers to liquidity contracts, which can be signed by a company, whose shares are admitted to trading on a regulated market, with an Investment firm or a credit institution. According to its opinion, ESMA agrees on the regular functioning of the AMP but it raises some concerns about its compliance with the MAR when the transitional period occurs and liquidity contracts are allowed to operate. The proposed AMP also departs from some of the elements specified by ESMA in its Opinion on liquidity contracts, issued in April 2017.