III.7.8.

Certain transparency platforms which are used to disclose inside information pursuant to Article 4(1) of REMIT use disclaimers which exclude any liability of the transparency platform for incorrect or incomplete information. Is the use of such disclaimers in line with obligations deriving from REMIT?

Answer: Inside information platforms are normally not liable for the completeness and correctness of the content of the urgent market message that they receive and disclose on behalf of the market participant.

However, inside information platforms should accept responsibility for any data error that has taken place after the market participant submitted the urgent market message to the platforms. In particular, inside information platforms should have mechanisms in place allowing inside information reports to be quickly and effectively checked with regard to their completeness, to identify omissions and obvious errors, and to request receipt of a corrected version of such reports.

Please note that, by 8 May 2025, the Commission shall adopt a delegated act on the authorisation and supervision of inside information platforms which may affect the answer to this question.