On 8 September 2025, the Financial Conduct Authority (FCA) published Market Watch 83.
In this Market Watch, the FCA shares its observations from a series of reviews of corporate finance firms that provide advisory and corporate broking services to small and mid-cap companies. These reviews focused on firms’ systems and controls for handling inside information about their corporate clients. The FCA assessed the effectiveness of firms’ UK Market Abuse Regulation (UK MAR) policies and procedures. In some cases, it also considered conduct relating to personal account dealing (PAD) and managing conflicts of interest.
The FCA’s observations in Market Watch 83 will help corporate finance firms benchmark their systems and controls and consider whether their own arrangements align with the standards expected.