Implementation of MAR
The Market Abuse Regulation (MAR) came into force last Sunday 3 July.
Just in time, the FCA updated its webpage on 1 July to include links to the PDMR/PCA notification form and the delayed disclosure form, together with guidance notes on how to complete them.
And on 29 June, the Market Abuse Regulations (SI 2016/680) were laid before Parliament to make the necessary amendments to the Financial Services and Markets Act 2000 to remove the former market abuse regime and to give the FCA the enforcement powers it needs as UK national competent authority under MAR.
And finally, on 5 July 2016, the Joint Working Parties on Market Abuse, Share Plans and Takeovers Code of the Company Law Committees of the City of London Law Society and the Law Society published MAR Q&A, setting out a suggested approach to implementing certain aspects of MAR. Charles Russell Speechlys’ partner, Victoria Younghusband is leading the Joint Working Parties.
For further information, please contact Victoria Younghusband on + 44 (0)20 7427 6707 or victoria.younghusband@crsblaw.com
Our thinking
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