The Financial Services and Markets Act 2000 (Market Abuse)
Regulations 2016 have been published together with an explanatory
memorandum and impact assessment. They amend the Financial Services
and Markets Act 2000 (FSMA), the Financial Services Act 2012 and
other legislation to ensure compatibility with the new market abuse
regime (EU MAR), and to give effect to those parts of EU MAR which
required Member States to put in place implementing legislation.
The changes include the deletion of much of the current part 8 of
FSMA. The Regulations designate FCA as the UK's competent
authority and set out its powers in relation to market abuse issues
and the reporting requirements under EU MAR. The Regulations come
into force on 3 July along with EU MAR. (Source: The Financial Services and Markets Act 2000
(Market Abuse) Regulations 2016, Explanatory Memorandum and Impact Assessment)
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