On July 16, the Committee of European Securities Regulators (CESR) published more guidance on the EU Market Abuse Directive (MAD). The guidance includes clarifications on what constitutes inside information, where delays to disclosure of inside information are permissible, insider lists and in what circumstances information relating to a pending orders may constitute inside information.

http://www.cesr-eu.org/index.php?page=home_details&id=225