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Recital 6

Recital 6

(6)To reduce administrative burdens and avoid duplicative entries in the insider lists referred to in Article 18(1) and (6), second subparagraph, of Regulation (EU) No 596/2014 with respect to persons who, due to the nature of their function or position within an entity, have access to all inside information at all times (‘permanent insiders’), it should be possible to list those persons in a supplementary section of the insider list (the ‘permanent insiders’ section’). As that section should be of a different nature to the event-based sections of the insider list, it should not be created each time upon the identification of a new piece of inside information. That section should rather specify the date and time when a permanent insider obtained and ceased to have access to all inside information at all times. An entity that decides to draw up and keep up to date a permanent insiders’ section, should not include the permanent insiders listed therein also in the event-based sections of the insider list, since those insiders are deemed to have access to all inside information at all times.

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