The FCA has published the latest issue of its newsletter Market Watch (issue 55).
Market Watch is the FCA’s newsletter on market conduct and transaction reporting issues, in this issue the FCA covers:
- transaction reporting at the block or allocation level;
- applicable legislation;
- DRSP supervision forms;
- transitional arrangement reminder – transaction T+1;
- application of the Market Abuse Regulation to emission allowance market participants;
- delayed disclosure of inside information – notifying; and
- persons discharging managerial responsibilities – notifying transactions.
In relation to transaction reporting at the block or allocation level the FCA states:
“An investment firm’s transaction report must reflect the transaction from your own perspective and, unless it meets the transmission conditions under Article 4 of Commission Delegated Regulation (EU) 2017/590, should not look forwards or backwards in a chain but report its immediate counterparty or client. This applies even if your immediate counterparty or client is not subject to MiFIR.”
View Market Watch 55, 12 December 2017