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Recital 9

Recital 9

(9)The non-exhaustive list of situations referred to in Article 17(12), point (b), of Regulation (EU) No 596/2014 should provide legal certainty to issuers and emission allowance market participants when assessing whether there is a contrast between the inside information that they intend to delay disclosing and their latest public announcement or other type of communication on the same matter. Exceptionally, in cases where it is not possible to draw a clear conclusion as to whether there is a contrast only on the basis of the latest public announcement or other type of communication, an issuer or an emission allowance market participant should also consider previous announcements or communications.

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