Manage a Subsidiary Insider List
The following guide will help you as an administrator on Logwise to get started with insider lists related to other firms. You will learn how to create subsidiary insider lists, add insiders and close insider lists.
1. How to create an insider list?
When you receive inside information from an issuer you are working on behalf of, you need to create and manage a subsidiary insider list. Click on the menu " INSIDER LIST" > "Create sub insider list " or on the button "+ CREATE PROJECT" > "Create sub insider list " . According to MAR, you need to put together some basic documentation which must be made available upon request from your National Competent Authority (NCA).
If you have been requested to manage an insider list by an Issuer who also uses Logwise then you will be able to select the project directly from the " Issuer project" drop down list. In other cases you will be required to enter the Issuer name and Issuer organization number yourself.
Click " CREATE" when the basic information has been entered.
2. How to add insiders to a project?
In Logwise, there are different ways of adding insiders to a project, use one of the below methods.
1. To add insiders, click the link "Add insiders here" or click the tab "Add insiders to list".
Start typing in the box "Start typing to add insiders/groups" marketed in red below. Any insiders that have previously been entered into the system will be selectable from the drop-down list. To add a new insider select the option "Add [name] as a new contact". There is an option to add contacts to the system before they are added to a list. Click here to learn how.
Select the insiders you want to add to the list by clicking the box to the right of each insider.
Once added, make sure the field "from date & time" is set correctly (the time when insiders received the inside information) and add any reason for why the insider is on the list, as required by MAR. If this field is left empty, insiders themselves will asked to insert this information. Please note the blue "i" which can be clicked on to get further information.
As a next step, click the green button "ADD X INSIDERS TO LIST" . An email will be sent to the insiders, including a legal memorandum stipulating the obligations under MAR, along with instructions how to acknowledge their obligations using Logwise. The first time insiders are added to a list they will also be requested to fill out their personal information.
2. You may also add pre-defined groups of insiders, allowing you to add multiple insiders in one go. Please click here to learn more how to create groups of insiders.
3. How to track emails and insiders confirmation status?
Insiders on the project are visible under the the tab "INSIDERS". Next to each insider you will see a traffic light system which indicates the status of the notification email and whether the insiders have confirmed their obligations or not. Scroll over the lights to see more information. Note: Reminders are sent to insiders once every weekday until their obligations have been confirmed or the project has been closed.
As an administrator, you can manage your own personal data and confirm any obligations by hovering over your initial at the top right corner and select "My insider"
4. How to close a project?
Click on the button "Status: Ongoing" on the project and follow the closing process. All insiders will be informed that the they are no longer insiders on this project. The project will be archived for 5 years.
This is the final step of the insider workflow.
5. Other functionality
There is additional functionality available through the menu (three vertical dots) at the top right hand corner of each project.
- Manage access - Please click here to learn more how to share a project with other administrators
- Edit project - Edit project name and other information
- Download - Download the content of the list to Excel
- Export - You can export the complete insider list and send to NCA upon request
- Audit trail - All changes made to the list can viewed through the audit trail
- Mails - Monitor all emails being send to insiders and resend emails manually
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