UK:
UK Regulator Consults On Handbook Changes To Implement Market Abuse Regulation
24 November 2015
Shearman & Sterling LLP
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On November 5, 2015, the Financial Conduct Authority published a
consultation paper on proposals for necessary changes to the FCA
Handbook that are required to implement the new Market Abuse
Regulation. The consultation paper seeks views, amongst other
things, on the different options for implementing the new regime in
two areas, namely: (i) the requirement for issuers to provide an
explanation for a delay in the disclosure of inside information
under certain circumstances; and (ii) the threshold for disclosure
of managers' transactions for persons discharging managerial
responsibilities within issuers. MAR replaces the Market Abuse
Directive and will apply from July 3, 2016. Comments on the
consultation are due by February 4, 2016.
The consultation is available at: http://www.fca.org.uk/static/fca/documents/consultation-papers/cp-15-35-mar.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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