On 28 December, BaFin issued guide on insider trading, manipulation.
- Presentation documents as part of the BaFin issuer workshop on Dec. 11, 2017.
- Publishing and dealing with inside information, Illegal disclosure, and sanctions.
- Publish if issuer admitted to regulated market or MTF/OTF approved instrument.
- Information a reasonable investor would use as a basis for investment decision.
- Temporary postponement of publication possible, if legitimate interest of issuer.
- Disseminate in a non-discriminatory way to wider public, free, and timely basis.
- Ban on insider trading, recommending to third parties, and unlawful disclosures.
- Where person has inside information, discloses to another unless normal course.
- Discussed when the provision of ad hoc publicity, becomes market manipulation.