Over the last month, members of the Corporate and Regulatory Committee have been working on guidance on the way in which MAR affects employee share plans. This has now been published on the SPL website. Although it is not a substitute for specific advice in particular circumstances, we hope that members find it helpful and are grateful for all the work done by committee members, Paul Randall, Paul Ellerman, Liz Pierson, Alice Greenwell, Jenna Poon, Amy Sellers, Pippa Hammond, Nicholas Stretch, Tamsin Nicholds, Hannah Needle, Anika Chandra, Mirit Ehrenstein, Jonathan Fenn and Janet Cooper who have contributed to it. We would welcome any comments on it or on the operation of MAR generally. These should be sent to firstname.lastname@example.org or email@example.com. Members are also reminded of the training session on MAR being held at Herbert Smith Freehills on 28 September 2016 where many of the issues raised in the document will no doubt be discussed further.