Glossary
MAR (Market Abuse Regulation)
EU Regulation 596/2014 on market abuse, including a whistleblowing-channel requirement for financial firms. Article 32 requires national competent authorities to establish reporting mechanisms, and Article 32(3) extends that requirement to employers in the financial sector. MAR predates EU Directive 2019/1937 and remains the operative regime for the financial sector, typically alongside the broader directive.
Full definition
The EU Market Abuse Regulation (MAR, Regulation (EU) No 596/2014) governs market abuse, including insider dealing, unlawful disclosure of inside information, and market manipulation. Article 32 of MAR requires national competent authorities to establish effective mechanisms to enable the reporting of actual or potential infringements, and Article 32(3) extends that requirement to employers in the financial sector. MAR predates EU Directive 2019/1937 by five years and remains the operative regime for the financial sector, typically alongside the broader directive, not replaced by it.
Related terms
- SOX The US Sarbanes-Oxley Act of 2002, including its whistleblower-protection provisions. Section 301 requires audit committees of public companies to establish procedures for receiving anonymous complaints on accounting or auditing matters. Section 806 protects whistleblowers from retaliation. EU subsidiaries of SOX-covered US issuers must operate a SOX-compliant channel alongside EU Directive 2019/1937 compliance.
- ISO 37001 The international standard for anti-bribery management systems, published by ISO in 2016. ISO 37001 specifies requirements for an anti-bribery management system with a documented policy, due diligence on third parties, training, and a 'raise concerns' procedure that maps directly to a whistleblowing channel. An effective whistleblowing channel is widely treated as a prerequisite for certification.