This year will see an overhaul of the market abuse regime across the EU with the implementation of the new Market Abuse Regulation (MAR) under the latest Market Abuse Directive (MAD II). MAR comes into force on 3 July 2016 alongside the Directive on criminal sanctions for market abuse (CSMAD) from which the UK has opted out. The new regime aims to enhance market integrity and investor protection.
As a regulation, MAR will have direct effect in all member states and will supersede the UK’s current market abuse regime contained in the Financial Conduct Authority (FCA) handbook and Financial Services and Markets Act 2000 (FSMA). The FCA is currently conducting a consultation on updating the FCA handbook and FSMA to reflect the impending changes. [Read more]