sisäpiirilistoja

Sisäpiirilistoja, or insider lists, are a tool used in financial markets to manage and monitor individuals who have access to non-public, price-sensitive information. These lists are mandated by regulations in many jurisdictions, including the European Union under the Market Abuse Regulation (MAR).

The primary purpose of insider lists is to prevent insider dealing, which is the illegal practice of trading securities based on material non-public information. By maintaining these lists, companies can track who has access to such information and, in turn, identify potential breaches of confidentiality or unauthorized trading activities.

Companies are required to compile and maintain an insider list for each financial instrument they have issued that is admitted to trading on a regulated market. The list must include details such as the identity of the insider, their relationship with the company, and the reason for their access to inside information. It also specifies the date and time when they gained access and when they ceased to have access.

These lists are not publicly disclosed but must be provided to the relevant regulatory authorities upon request. Regulators use them to investigate suspected cases of insider dealing and market manipulation. The creation and maintenance of accurate and up-to-date insider lists are crucial for companies to demonstrate their compliance with market abuse regulations and to foster confidence in the integrity of the financial markets. Failure to comply can result in significant penalties.