The FCA has published a speech given by Julia Hoggett (Director of Market Oversight, FCA). The speech is entitled Effective compliance with the Market Abuse Regulation – a state of mind.
Key messages in the speech include the following:
- Primary market oversight – it has been observed in the media that the FCA now has a greater focus on the quality of disclosures of listed issuers and this is indeed true;
- Secondary market oversight – insider dealing may be the poster child of market abuse, the behaviour that comes to mind the most, but clean markets rely on participants having faith in appropriate price formation taking place, and tackling market manipulation is clearly critical to this;
- Preventing abusive behaviour – the FCA expects firms to ensure that their systems are in constant evolution to meet the changing nature and needs of the businesses within which they operate; and
- Preparation – the FCA asks why are firms not aligning their efforts to combat financial crime with their efforts to combat market abuse? The regulator views them as inextricably linked
View Effective compliance with the Market Abuse Regulation – a state of mind, 14 November 2017
