Do final customers need to include the name and location of an asset when publishing inside information notifications?
As the disclosure obligation according to Article 4(1) of REMIT falls on market participants, final customers should first asses if they qualify as market participants according to REMIT considering the threshold set in Article 2(5) of REMIT.
The market participants shall publish inside information pursuant to Article 4(1) of REMIT. Chapter 7.2.2 of the ACER Guidance on the application of REMIT (4th edition) describes the minimum quality requirements for effective disclosure of inside information that includes the disclosure of the name and location of the asset concerned.
However, Article 4(4) of REMIT stipulates that the publication of inside information, including in aggregated form, in accordance with Regulation (EC) No 714/2009 or (EC) No 715/2009, or guidelines and network codes adopted pursuant to those Regulations constitutes simultaneous, complete and effective public disclosure.
The Agency points out that although it acknowledges application of Article 4(4) of REMIT, i.e. publication of inside information in aggregated form, the final customer, as any other market participant in question, needs to ensure that it publishes inside information in line with the requirements specified in Regulation (EC) No 714/2009 or (EC) No 715/2009, in an effective and timely manner. Further detail on the concept of timely disclosure may be found in Section 7.3 of the ACER Guidance.
Last update: 16/06/2017
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