The MFSA issued a Consultation on defining Material Related Party Transactions and Disclosure Requirements as required in terms of the Shareholders Rights Directive II. The Authority outlined that while the Listing Rules holistically cover related party transactions, there is still the paucity in the definition of what is "material" in the context of related party transactions. The Consultation, which closes on the 27 May 2019 was triggered following the new requirements under the Shareholder Rights Directive II relating to the disclosure obligations in the context of material transactions with related parties.
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