The European Union
(EU) Market Abuse Regulation 596/2014 (MAR) stipulates requirements regarding
the disclosure of inside information. National laws of the EU Member States,
based on the EU Transparency Directive 2004/109, as well as the MAR,
furthermore stipulate rules regarding the disclosure of the possession of
certain percentages of shares and/or votes in the issuer/listed company. All
these rules and requirements aim at achieving fair market conditions for
(potential) investors and the well-functioning of financial markets. In this
article, an overview and discussion will be provided regarding the most
important rules with respect to transparency in the MAR and in the Financial
Supervision Act applicable in the Netherlands, especially in light of the
(upcoming) changes in this respect in the MAR implemented via the EU Listing
Act 2024/2809.