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The Latest

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When is Information deemed “public” under the Market Abuse Regulation?

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27 April 2026

When is Information deemed “public” under the Market Abuse Regulation?

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On 16 April 2026, the Court of Justice of the European Union (“CJEU”) delivered its judgment in Brännelius (C-229/24), addressing when inside information becomes “public” under the Market Abuse Regulation (“MAR”)

The key takeaway is that information shared with a very limited group, or information regarding a very recent event that can only be obtained upon request under national freedom-of-information rules, is not sufficient to render such information “public” under MAR.

The judgment further raises a need for clarification from the Court of Justice of the European Union on whether inside information can only lose its status as such through formal disclosure by the issuer (or a party acting on its behalf).

Click 'Download' above to read our newsletter on this matter.

Dan Moalem

Partner

+45 30 37 96 10

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Mads Rosleff Øbro

Senior Associate

+45 30 37 96 98

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Gurjot Singh

Associate

+45 30 37 96 06

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Lasse Funder Berg

Associate

+45 31 43 86 32

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