site.btaParliament Approves Amendments to Markets in Financial Instruments Act at First Reading

On Thursday, Parliament approved at first reading amendments to the Markets in Financial Instruments Act proposed by the Council of Ministers. The amendments transpose several EU legislative acts into national law.

The bill clarifies the procedure for temporarily suspending or restricting trading of a financial instrument on the regulated market, and sets out the requirement to disclose decisions to suspend or restrict trading in financial instruments on the regulated market's website. The competent authority is empowered to take action if the regulated market fails to suspend or restrict trading in a financial instrument despite a significant price change in that instrument or related instruments, which would result in trading in breach of the established order on one or more markets.

To incorporate the requirements of Article 3 of Directive (EU) 2023/2864 into national law, the Financial Supervision Commission has been designated as the authority responsible for collecting data for the creation of a European single access point for regulated information disclosed under the Public Offering of Securities Act. The scope, content, and format of this information have also been specified.