Disclosure trigger file
Link each publication decision to the Article 87 inside-information classification, affected crypto-assets, issuer or offeror owner, event source, approval timestamp, and unresolved legal or compliance questions.
What Article 88 changes operationally
Public disclosure: Regulation (EU) 2023/1114 Article 88 says issuers, offerors, and persons seeking admission to trading shall inform the public as soon as possible of Article 87 inside information that directly concerns them, in a manner enabling fast access and complete, correct and timely assessment by the public.
Article 88 also says disclosure of inside information shall not combine the disclosure with marketing of activities, and that required public inside information should be posted and maintained on the website for a period of at least five years.
Where a team chooses to delay disclosure, the operational file should show the delay owner, the legitimate-interest rationale, why delay is not likely to mislead the public, how confidentiality is maintained, and how the competent-authority notification or explanation record is handled after disclosure.
This page is a control-mapping checklist. It is not a legal interpretation, disclosure recommendation, market-abuse determination, trading recommendation, filing guide, broker recommendation, or assurance that a disclosure process is sufficient for any fact pattern.
Article 88 evidence matrix
Fast-access publication path
Record the website, feed, notice page, media channel, publication timestamp, access checks, archive URL, and evidence that the disclosure supports complete, correct and timely public assessment.
Marketing separation
Keep announcement copy, campaign copy, investor relations copy, social posts, paid promotion, and product-marketing material separate from the inside-information disclosure record.
Five-year website retention
Maintain a public archive map, URL ownership, takedown controls, redirects, canonical pages, content hashes or screenshots, and periodic checks showing required disclosures remain available.
Delay conditions
If disclosure is delayed, document legitimate-interest rationale, public-misleading risk review, confidentiality controls, information-access list, escalation owner, and expiry or reassessment cadence.
Competent-authority handoff
After delayed disclosure, retain the competent-authority notification or written-explanation record, submission timing, response owner, version history, and Article 68 governance handoff.
Review-ready tracker
- Disclosure owner: named person or committee for Article 88 intake, approval, publication, delay review, authority handoff, and evidence retention.
- Evidence sources: Article 87 classification memo, board or management approval, counsel review, publication URL, website archive, access-control logs, and authority correspondence.
- Delay controls: legitimate-interest memo, public-misleading assessment, confidentiality controls, need-to-know access list, reassessment dates, and release trigger.
- Handoff pages: link the disclosure file to Article 87 inside information, Article 86 market-abuse scope, Article 68 governance, Article 72 conflicts, and incident or communications records.
FAQ
What does MiCA Article 88 cover?
Article 88 covers public disclosure of Article 87 inside information by issuers, offerors, and persons seeking admission to trading, including fast access, complete, correct and timely public assessment, marketing separation, website retention, and delay conditions.
Why does Article 88 matter for CASP evidence packs?
CASPs, venues, issuers, and service providers may need structured disclosure handoffs, publication records, access controls, delay files, communications archives, and governance evidence when market-abuse, incident, listing, custody, or client-order workflows intersect with inside-information controls.
How does Article 88 connect to operational risk?
Disclosure controls can expose operational-risk questions around authority to publish, website uptime, archive retention, marketing separation, confidentiality during delay periods, incident response, conflicts, and governance. Those gaps can matter in counsel, auditor, partner, broker, insurer, or internal-risk review, without turning this page into insurance advice.