ESMA has published a series of papers relating to the operation of MAR. The papers include:
- a peer review report on how regulators handle STORs. The review showed there had been a significant increase in market participants making STORs but thought supervisors could still do a lot more to encourage compliance and to challenge poor quality reports. The UK was among 6 Member States assessed as being fully compliant;
- a report on the administrative and criminal sanctions used under MAR;
- a report on accepted market practices and how they are used by the Spanish, Portuguese, French and Italian authorities; and
- details of responses it received to its review on the operation of MAR.