The Law Society has published the Law Society and City of London Law Society Company Law Committees Joint Market Abuse Working Party’s response to ESMA’s now-closed consultation on EU MAR (see FReD 5 February). The proposed guidelines relate to persons receiving market soundings, legitimate interests of issuers to delay inside information and situations in which the delay of disclosure is likely to mislead the public. The main comment is that recipients of market soundings will often not be regulated entities, and so applying the same rules to them as to regulated firms may be disproportionate. (Source: The Law Society responds to ESMA’s EU MAR consultation)