The FCA has published a new webpage relating to security status obligations under MiFID II. Articles 32 and 52 of MiFID II establish obligations on national competent authorities, trading venues and systemic internalisers relating to security statuses. These cover suspension and removal of certain financial instruments from trading. The webpage provides information on the following:

  • submitting information to the FCA. Where a UK trading venue decides to suspend or remove an instrument because it no longer complies with the venue’s rules, it needs to inform the FCA (along with restorations of said suspensions). The trading venues will need to specify where a suspension or removal is due to suspected market abuse, a take-over bid or the non-disclosure of inside information about the issuer or financial instrument;
  • notifications from the FCA. Where action is required in relation to security statuses, the FCA will inform UK trading venues and systematic internalisers by email; and
  • For notifications from UK trading venues, or originating from the FCA, the FCA will provide a record of where it has required action in relation to security statuses. This includes information where, following a notification from a UK trading venue, the FCA decides not to require other trading venues to extend because of a potential significant damage to the interests of investors or the orderly functioning of the market. It aims to update this workbook daily, where required.

View New FCA webpage on security status obligations under MiFID II, 21 December 2017