United Kingdom (and EU regulation)

FCA updates statements of policy on the operation of the MiFID transparency regime

By Hannah Meakin (UK), Simon Lovegrove (UK) and Anita Edwards on August 29, 2023 Posted in FCA / PRA Handbook, United Kingdom

On 29 August 2023, the FCA updated its statements of policy on the operation of the MiFID transparency regime.

The section on the double volume cap (DVC) has now been deleted from the document. This reflects the removal by the Financial Services and Markets Act 2023 of Article 5 of the UK Markets in Financial Instruments Regulation (UK MiFIR), which contained provisions on the DVC mechanism.