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
On 24 November 2022, the European Union Agency for the Cooperation of Energy Regulators (ACER) announced that it has updated its REMIT data reporting guidance.
Following extensive consultation with stakeholders launched in June 2022 that aimed to improve REMIT data reporting, ACER had published:
On 18 November 2022, the European Securities and Markets Authority (ESMA) published a report on the administrative and criminal sanctions and other administrative measures imposed under the Market Abuse Regulation (MAR) in 2021.
Article 33 of MAR obliges ESMA to publish an annual report with aggregated information of all penalties and
On 18 October 2022, the EU Agency for the Cooperation of Energy Regulators (ACER) and the European Securities and Markets Authority (ESMA) announced that they are strengthening their cooperation to further improve information exchange and avoid potential market abuse in Europe’s spot and derivative markets.
Henceforth, ACER and ESMA have announced
On 18 October 2022, there was published in the Official Journal of the European Union (OJ) Commission Delegated Regulation (EU) 2022/1959 of 13 July 2022 supplementing the Market Abuse Regulation with regards to regulatory technical standards setting out a contractual template for liquidity contracts for the shares of issuers whose financial instruments are
The FCA has recently fined Sir Christopher Gent, former non-executive Chairman of a global medical products and technologies company (the Company), £80,000 for the unlawful disclosure of inside information relating to the Company in contravention of the EU Market Abuse Regulation (EU MAR). The published decision contains a number of key takeaways
On 3 October 2022, the FCA published Market Watch 70.
Market Watch is the FCA’s newsletter on market conduct and transaction reporting issues. In this issue the FCA outlines some of its recent observations on the transaction reporting and instrument reference data regimes.
Key points in this issue of Market Watch include: