Managers' Transactions acc. to Art. 19 MAR
Since July 3, 2016, new rules have been in force for the reporting and disclosure of transactions involving the company's financial instruments and derivatives of these financial instruments. The new European Market Abuse Regulation N° 596 / 2014 (“MAR”) has considerably tightened the duties governing so-called managers' transactions.
The reporting and disclosure duty applies to members of the Board of Management and of the Supervisory Board, and to persons closely associated with them. It also applies to legal entities, other companies, or organizations acting by order of or in the interests of the aforementioned persons.
Notifications acc. to § 15a WpHG (until July 3, 2016)