On 17 July 2023, the European Securities and Markets Authority (ESMA) published a report on Suspicious Transactions and Order Reports (STORs).
The report provides an overview of how STORs are used across different Member States in the context of the detection and investigation of market abuse, and how their use has
On 26 May 2023, there was published on the legislation.gov.uk website, The Insider Dealing (Securities and Regulated Markets) Order 2023.
This Order updates Schedule 2 of the Criminal Justice Act 1993 (CJA), bringing securities and markets on which an offence can be committed in the CJA broadly in line with the Market
Recently, the FCA published Market Watch 73 which covered the regulator’s market abuse peer review into firms that offer contracts for difference (CfDs) and spread bets. The Market Watch followed the FCA’s earlier Dear CEO letter which was published last December which highlighted the FCA’s expectations of firms offering CfDs (including in relation
On 26 April 2023, the FCA published Market Watch 73. In this Market Watch, the FCA discusses the observations and findings from its recent market abuse peer review into firms that offer Contracts for Difference (CFDs) and spread bets, both of which are particularly vulnerable to being used for insider dealing due
On 17 April 2023, HM Treasury published a draft of the Insider Dealing (Securities and Regulated Markets) Order 2023, (the draft statutory instrument (SII)), along with a draft explanatory memorandum.
The SI updates Schedule 2 of the Criminal Justice Act 1993 (CJA) bringing the securities and markets on which
On 24 March 2023, HM Treasury and the FCA issued a statement providing an update on the criminal market abuse regime (the regime). In the Economic Crime Plan 2019-22, the government and FCA committed to jointly reviewing the regime within the wider context of the Future Regulatory Framework (FRF) Review. The statement
On 20 March 2023, the European Securities and Markets Authority (ESMA) published a letter, addressed to the European Parliament and Council, raising concerns over proposed changes to the insider list regime in the Market Abuse Regulation.
The proposed changes, put forward by the European Commission (Commission) in December 2022 as
Demonstrating its continuing focus on preventing, detecting and punishing market abuse, on 25th January 2023, the FCA announced that it has commenced criminal proceedings against five individuals, alleging that they conspired to commit offences of insider dealing between December 2019 and March 2021. In addition to insider dealing, the five individuals are charged with
On 11 January 2023, the FCA published Market Watch 72.
In this Market Watch, the FCA outlines their recent findings on the quality of service provided by Approved Publication Arrangements and Approved Reporting Mechanisms, collectively known as Data Reporting Services Providers (DRSPs), to clients who use a DRSP to meet their MiFID
On 13 December 2022, the FCA published Market Watch 71.
In Market Watch 71, the FCA shares their observations about changes in advisory firms’ insider lists since the publication of Market Watch 60. The FCA also reminds firms of the requirement within UK Market Abuse Regulation (UK MAR) to include personal information