FCA Publishes Latest Review On MAR Implementation

Author:Shearman & Sterling LLP
Profession:Shearman & Sterling LLP
 
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On 17 December 2018, the FCA published issue 58 of its Market Watch newsletter. This edition focused on the industry-wide review of the implementation of the Market Abuse Regulation (EU) No 596/2014 (MAR) and covered the following topics:

Compliance with MAR The FCA noted that the most effective risk-assessments were arrangements and polices that had been modelled on the particular market or specific asset class relating to the company's business. The monitoring of suspicious transactions was seen as requiring further improvement by the industry in general in order to be fully compliant with MAR. Market soundings The FCA confirmed that it had not detected any impact on the ability of an issuer to raise finance as a consequence of the market sounding regime implemented by MAR. The FCA highlighted that there remained a strong market appetite for using such protections offered by the sounding regime. Where companies were implementing market sounding arrangements in the workplace, the FCA noted the benefits of appointing specific teams to decide whether a...

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