Market Abuse

Course Overview

Market Abuse is a key area of focus for the regulator, and this shows no sign of changing. Especially with the introduction of the new EU Market Abuse Regulation (MAR), taking affect across the UK from the 3rd July 2016. This new regulation will replace the Market Abuse Directive, rules regarding inside information in DTR 2, the dealing of directors and others responsible for discharging managerial responsibilities in DTR 3 as well as the Model Code.

The FCA has made changes to its handbook based on the feedback received from the Consultation Papers. The Disclosure Rules have been replaced with signposts to the EU Articles, Technical Standards and ESMA guidelines. The FCA is also amending its guidance in this area.

With the regulator applying a range of punishments and fines to both individuals and firms regarding Market Abuse failures, including:

• Unlimited Regulatory Fines for both firms and individuals
• Imprisonment
• Withdrawal or variation of the firm’s authorisation
• Bar for individuals from ever working in the financial services industry again
• Reputational damage

It is vitally important that all members of staff are fully aware of their responsibilities regarding this area. Also, they need to be completely up to date with the changes and how each of these can impact on them and the firm. Firms are responsible for the competence of the staff they employ. One person acting inappropriately could cause reputational damage for the firm that they work for.

Learning Objectives

This training course will highlight the offences of Market Abuse to your staff using recent and relevant events as examples. Providing them with the confidence to address any sensitive issues and respond in an appropriate manner that meets the regulatory expectations.

• Recap the main offences of Market Abuse with worked examples
• Regulatory focus on financial crime and particularly the issue of Market Abuse
• Recent cases of Market Abuse and discussion about systems and controls to prevent them
• Individual roles and responsibilities as Approved Persons
• Case studies based on private client business model and where and when Market Abuse is likely to take place
• Next steps
• What will we do differently