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Regulation 596/2014/EU - Market Abuse Regulation (MAR)RecitalsChapter 1 General provisions (arts. 1-6)Article 1 Subject matterArticle 2 ScopeArticle 3 DefinitionsArticle 4 Notifications and list of financial instrumentsArticle 5 Exemption for buy-back programmes and stabilisationArticle 6 Exemption for monetary and public debt management activities and climate policy activitiesChapter 2 Inside information, insider dealing, unlawful disclosure of inside information and market manipulation (arts. 7-16)Article 7 Inside informationArticle 8 Insider dealingArticle 9 Legitimate behaviourArticle 10 Unlawful disclosure of inside informationArticle 11 Market soundingsArticle 12 Market manipulationArticle 13 Accepted market practicesArticle 14 Prohibition of insider dealing and of unlawful disclosure of inside informationArticle 15 Prohibition of market manipulationArticle 16 Prevention and detection of market abuseChapter 3 Disclosure requirements (arts. 17-21)Article 17 Public disclosure of inside informationArticle 18 Insider listsArticle 19 Managers' transactionsArticle 20 Investment recommendations and statisticsArticle 21 Disclosure or dissemination of information in the mediaArticle 21a Accessibility of information on the European single access pointChapter 4 ESMA and competent authorities (arts. 22-29)Article 22 Competent authoritiesArticle 23 Powers of competent authoritiesArticle 24 Cooperation with ESMAArticle 25 Obligation to cooperateArticle 25a Mechanism to exchange order dataArticle 25b Collaboration platformsArticle 26 Cooperation with third countriesArticle 27 Professional secrecyArticle 28 Data protectionArticle 29 Disclosure of personal data to third countriesChapter 5 Administrative measures and sanctions (arts. 30-34)Article 30 Administrative sanctions and other administrative measuresArticle 31 Exercise of supervisory powers and imposition of sanctionsArticle 32 Reporting of infringementsArticle 33 Exchange of information with ESMAArticle 34 Publication of decisionsChapter 6 Delegated acts and implementing acts (arts. 35-36)Article 35 Exercise of the delegationArticle 36 Committee procedureChapter 7 Final provisions (arts. 37-39)Article 37 Repeal of Directive 2003/6/EC and its implementing measuresArticle 38 ReportsArticle 39 Entry into force and applicationAnnex IAnnex II Correlation tableDone at
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AI Summary of Article 6 Exemption for monetary and public debt management activities and climate policy activities

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Version status: Applicable | Document consolidation status: Updated to reflect all known changes
Version date: 3 July 2016 - onwards
Version 3 of 3

Article 6 Exemption for monetary and public debt management activities and climate policy activities

1. This Regulation does not apply to transactions, orders or behaviour, in pursuit of monetary, exchange rate or public debt management policy by:

(a) a Member State;

(b) the members of the ESCB;

(c) a ministry, agency or special purpose vehicle of one or several Member States, or by a person acting on its behalf;

(d) in the case of a Member State that is a federal state, a member making up the federation.

2. This Regulation does not apply to transactions, orders or behaviour carried out by the Commission or any other officially designated body or by any person acting on its behalf, in pursuit of public debt management policy.

This Regulation does not apply to such transactions, orders or behaviour carried out by:

(a) the Union;

(b) a special purpose vehicle of one or several Member States;

(c) the European Investment Bank;

(d) the European Financial Stability Facility;

(e) the European Stability Mechanism;

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