MAR Industry Communication – July 2021

Market Abuse

Date: 29 July 2021

MAR applies to a broad range of market participants all of whom play a role in maintaining market transparency and integrity. The Central Bank issued three industry letters to relevant market participants 1. Persons who transmit and receive or execute orders and transactions in financial instruments, 2.  Issuers and 3. Persons who act on behalf or on account of issuers (Advisors). Each letter provides an overview of the key findings from the Central Banks 2020 market abuse supervisory work. It also sets out the Central Banks expectations in relation to MAR compliance standards (building on our 2021 securities market conduct communication including the Securities Markets Risk Outlook Report). Link to related press release available here.

REGULATED ENTITIES – MAR requirements to trade surveillance and reporting of suspected market abuse.

ISSUERS – MAR requirements to recognize, publish and manage inside information.

ADVISORS – MAR implications for advisors to issuers .