Tag: Market abuse

FCA Market Watch 69

On 17 May 2022, the FCA published the latest edition of Market Watch, its newsletter on market conduct and transaction reporting issues. In Market Watch 69 the FCA covers firms’ arrangements for market abuse surveillance, drawing on its observations from engaging with small and medium sized firms. The FCA states that whilst the topics covered … Continue Reading

ESMA objects to Commission’s proposed amendments on its draft ITS on insider lists

On 3 May 2022, the European Securities and Markets Authority (ESMA) issued two opinions regarding the European Commission’s proposed amendments to the regulatory technical standards (RTS) on liquidity contracts for SME Growth Market issuers and the implementing technical standards (ITS) on insider lists. The draft RTS and ITS were initially adopted by the ESMA in … Continue Reading

FCA updates UK MAR webpage

On 25 April 2022, the Financial Conduct Authority (FCA) updated its webpage on the UK Market Abuse Regulation (UK MAR). The FCA has updated the text under the heading ‘Managers’ transactions’ which concerns Article 19 UK MAR which requires persons discharging managerial responsibilities within certain issuers (PDMRs), and persons closely associated with them (PCAs), to … Continue Reading

ESMA guidelines on MAR delay in the disclosure of inside information and interactions with prudential supervision

On 13 April 2022, there was published the official translations of the European Securities and Markets Authority’s guidelines concerning delay in the disclosure of inside information and interactions with prudential supervision. The official translations can be accessed on this link and then click the blue ‘i’ in the ‘Info’ column. The guidelines apply 2 months … Continue Reading

ACER updates TRUM

On 31 March 2022, the European Union Agency for the Cooperation of Energy Regulators (ACER) published an updated version of its Transaction Reporting User Manual (TRUM) and its Annex II. The update follows a five month consultation and the amendments provide guidance on the reporting of transactions related to the transportation of natural gas, which … Continue Reading

Ofgem – Decision on changes to REMIT Penalties Statement and REMIT Procedural Guidelines

On 23 March 2022, Ofgem announced that it was implementing the changes to its REMIT Procedural Guidelines and REMIT Penalties Statement that it consulted on last year. This includes the decision to remove the middle and late settlement windows, and to allow the director with responsibility for enforcement to make decisions in settlement cases. The … Continue Reading

Manipulative trading practices: A guide for banks’ legal and compliance departments

The events in Ukraine are having a significant impact on financial markets. In the UK, the FCA recently issued a statement reminding issuers of securities admitted to UK trading venues of their disclosure obligations under the UK Market Abuse Regulation. More widely, the FCA will be keeping a close eye on market conduct during this … Continue Reading

FCA statement ‘Events in Ukraine – impact on financial markets’

On 3 March 2022, the FCA issued a statement on its website concerning events in Ukraine and the sanctions imposed on Russia, reminding issuers of securities admitted to UK trading venues of their disclosure obligations under the UK Market Abuse Regulation (MAR). The statement goes on to remind companies in scope of MAR that they … Continue Reading
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