The European Securities and Markets Authority (ESMA) has launched a consultation paper proposing changes to the format for drawing up and updating insider lists under the Market Abuse Regulation (MAR). The changes aim to reduce the administrative burden on issuers required to maintain insider lists. The Listing Act mandates ESMA to review the Implementing Technical Standards (ITS) on insider lists to extend the simplified format currently used by Small and Medium Enterprises (SME) Growth Market to all issuers. The consultation will remain open until June 3, 2025, and ESMA will finalize the ITS based on the feedback received. The finalized ITS will be submitted to the European Commission in Q4 2025. The proposed changes are part of the Listing Act amendments to MAR. The current format for insider lists is seen as burdensome for issuers, and the changes aim to simplify the process. ESMA is seeking feedback from stakeholders on the proposed changes to the ITS on insider lists. The consultation paper outlines the draft implementing technical standards on the extension of the use of the alleviated format of insider lists. The changes are intended to benefit all issuers, not just those on the SME Growth Market.