{"id":10094,"date":"2022-07-04T17:19:32","date_gmt":"2022-07-04T17:19:32","guid":{"rendered":"http:\/\/legalblog.ie\/transparency-post-2016\/"},"modified":"2022-07-04T17:19:32","modified_gmt":"2022-07-04T17:19:32","slug":"transparency-post-2016","status":"publish","type":"post","link":"https:\/\/legalblog.ie\/transparency-post-2016\/","title":{"rendered":"Transparency Post-2016"},"content":{"rendered":"<p>The 2014 Companies Act restates the legislation in relation to giving effect to the Transparency (Regulated Markets) Directive. This is concerned with harmonisation of transparency requirements in relation to information about issuers whose securities are issued to regulated market.<\/p>\n<p>The rulemaking power of the Minister to give effect to regulations required by transparency law are confirmed. Regulations contain provision for offences and for civil liability for contravention.<\/p>\n<p>Civil liability may not be created by in respect of a contravention of the regulations, save in respect of a contravention that involves :<\/p>\n<ul>\n<li>an untrue or misleading statement;<\/li>\n<li>an omission from a statement or any matter required to be included in a statement that is contained in a publication made in purported compliance with a provision of transparency law specified and in respect of which a person suffers a loss by reason of acquiring or contracting to acquire shares in reliance on that publication when, and in circumstances in which, it was reasonable for the person to rely on the publication, and the following condition are fulfilled:<\/li>\n<li>he knew the statement concerned was untrue or misleading or was reckless as to whether it was untrue or misleading;<\/li>\n<li>he knew the omission concerned to be dishonest concealment of a material fact.<\/li>\n<\/ul>\n<p>Supplementary rules may be made by the competent authority. Rules may be made making requirements to do or not to do specified things so as to secure the provision of transparency law are complied with. This may require adaptation of particular procedures or use of specified forms in the provision of information to the competent authority.<\/p>\n<p>It may require that things be done or not be done so as to secure effective supervision by the competent authority, of activities of the kind which the transparency legislation relates to. It may include in particular obligations to make reports or disclose such matters, at such times and in such manner, to the competent authority or other specified persons, as are provided for by the rules or specified by the competent authority pursuant to the rules.<\/p>\n<p>The provisions of transparency law that are expressed to be made for the purpose of enabling the imposition of administrative sanctions, shall apply in respect of contravention of rules made and rules adopted by the supervisory authority concerning its functions, as they apply in relation to contravention of a provision of transparency law.<\/p>\n<p>Accordingly, a sanction may be imposed in respect of contravention of a provision of that law imposed in respect of contravention of the above rules. Competent authority may issue guidelines in writing as to the steps that may be taken to comply with transparency law. The Minister may after consultation with the competent authority by provisional order provide that , one or more of the provisions of transparency law shall apply to a market specified in the order.<\/p>\n<!--themify_builder_content-->\n<div id=\"themify_builder_content-10094\" data-postid=\"10094\" class=\"themify_builder_content themify_builder_content-10094 themify_builder tf_clear\">\n    <\/div>\n<!--\/themify_builder_content-->\n","protected":false},"excerpt":{"rendered":"<p>The 2014 Companies Act restates the legislation in relation to giving effect to the Transparency (Regulated Markets) Directive. This is concerned with harmonisation of transparency requirements in relation to information about issuers whose securities are issued to regulated market. The rulemaking power of the Minister to give effect to regulations required by transparency law are [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[133],"tags":[],"_links":{"self":[{"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/posts\/10094"}],"collection":[{"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/comments?post=10094"}],"version-history":[{"count":1,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/posts\/10094\/revisions"}],"predecessor-version":[{"id":32554,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/posts\/10094\/revisions\/32554"}],"wp:attachment":[{"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/media?parent=10094"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/categories?post=10094"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/tags?post=10094"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}