Inside-information source file
Link each disclosure review to the Article 87 file: precise information, non-public status, price-effect rationale, relevant crypto-assets, and current owner.
What Article 90 changes operationally
Prohibition of unlawful disclosure of inside information: Regulation (EU) 2023/1114 Article 90 addresses unlawful disclosure by persons in possession of inside information, except where disclosure is made in the normal exercise of employment, a profession, or duties.
For operating evidence, treat Article 90 as a reason to retain inside-information access maps, disclosure approvals, communication-channel inventories, external-adviser logs, wall-crossing or need-to-know notes, and escalation records that connect back to Article 87 classification and Article 88 public-disclosure decisions.
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 about any communication, person, role, disclosure, crypto-asset, or fact pattern.
Article 90 evidence map
Access and recipient map
Track who knew the information, why they needed access, role or duty basis, external adviser involvement, timestamps, and unresolved assumptions.
Communications archive
Retain emails, chat channels, announcements, support scripts, media drafts, investor or customer communications, and any approvals or corrections.
Governance handoffs
Connect unlawful-disclosure reviews to Article 87 inside information, Article 88 public disclosure, Article 89 insider dealing, Article 91 market manipulation, Article 72 conflicts, and Article 68 governance controls.
Broker, insurer, partner, and internal-risk diligence questions
- Evidence sources: inside-information registers, access lists, communications archives, adviser logs, disclosure approvals, incident records, conflicts registers, and governance escalation notes.
- Decision records: information owner, recipient, purpose, timing, duty or role rationale, confidentiality controls, Article 88 disclosure status, and unresolved counsel or compliance questions.
- Handoff pages: link Article 90 files to Article 87 inside information, Article 88 public disclosure, Article 89 insider dealing, Article 91 market manipulation, Article 72 conflicts, and Article 68 governance controls.
FAQ
What does MiCA Article 90 cover?
Article 90 is titled “Prohibition of unlawful disclosure of inside information” and focuses on disclosure by a person in possession of inside information, except where disclosure is made in the normal exercise of employment, a profession, or duties.
Why does Article 90 matter for CASP evidence packs?
CASPs, venues, issuers, offerors, and transaction-facing teams may need evidence that inside-information access, communications, adviser handoffs, confidentiality controls, disclosure decisions, conflicts, and governance escalation are mapped before market-abuse, partner, auditor, counsel, broker, insurer, or internal-risk review.
How does Article 90 connect to operational risk?
Unlawful-disclosure controls can expose gaps in access management, communication approvals, disclosure handoffs, external-adviser controls, confidentiality evidence, incident handling, and governance ownership. Those gaps can matter operationally without turning this page into legal, disclosure, trading, or insurance advice.