UK:
UK Financial Conduct Authority Report On Asset Management Firms And Risk Of Market Abuse
05 March 2015
Shearman & Sterling LLP
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On February 18, 2015, the FCA published a report on asset
management firms and the risk of market abuse. The report sets out
the findings from the FCA's thematic review on how asset
management firms manage the risk of insider dealing, improper
disclosure, market manipulation and market abuse. The report found
that firms have procedures in place to control such risks, but that
further work is required to cover all material risks as
comprehensive procedures were found to be in place only in a
minority of firms. Only a small number of firms were found to have
appropriate controls on post-trade surveillance, and further steps
to manage such risks, and the risks of receiving inside information
during the investment process, are recommended.
The report is available at: http://www.fca.org.uk/static/documents/thematic-reviews/tr15-01.pdf.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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