EU Market Abuse Regulation meaning

Assimilated Regulation (EU) 596/2014 (UK Market Abuse Regulation) has effect in the UK from IP completion day (31 December 2020)...

ARCHIVED: This timeline has been archived and is no longer maintained. For developments from January 2024 onwards, see EU Market Abuse Regulation—timeline for issues relating to the EU Market Abuse Regulation, or UK Market Abuse Regulation—timeline for matters concerning the UK Market Abuse Regulation. For further guidance on the EU Market Abuse Regulation, see Practice Note: EU Market Abuse Regulation (MAR)—essentials. For further guidance on the UK Market Abuse Regulation, see Practice Note: UK Market Abuse Regulation (MAR)—essentials. Date: 9 November 2023 Source: European Economic Area Joint Committee Documents: Decision of the EEA Joint Committee No 98/2023 of 28 April 2023 amending Annex IX (Financial services) to the EEA Agreement [2023/2252]; Decision of the EEA Joint Committee No 99/2023 of 28 April 2023 amending Annex IX (Financial services) to the EEA Agreement [2023/2253]; Decision of the EEA Joint Committee No 100/2023 of 28 April 2023 amending Annex IX (Financial services) to the EEA Agreement [2023/2254] Description: Three decisions of the EEA Joint Committee...

Timeline This timeline reviews the evolution of the UK market abuse framework under Assimilated Regulation (EU) 596/2014 (UK Market Abuse Regulation) from 2024 onwards. For earlier milestones, refer to Market Abuse Regulation—timeline. For general guidance on the UK Market Abuse Regulation, consult Practice Notes: Market Abuse Regulation (MAR)—essentials, UK Market Abuse Regulation (UK MAR)—one minute guide, and UK Market Abuse Regulation—level 2 and level 3 measures...

The following chart provides a concise outline of the principal information and the questions to weigh when determining whether something amounts to inside information for the purposes of Article 7 of Regulation (EU) 596/2014 (the EU Market Abuse Regulation) and Assimilated Regulation (EU) 596/2014 (the UK Market Abuse Regulation). For fuller detail, consult Practice Note: Market Abuse Regulation (MAR)—essentials—Definition of inside information...

In this issue Prudential requirements Financial crime and sanctions Consumer protection Investigations, enforcement and discipline Ex-Barclays executive loses appeal over FCA ban on senior job Regulation of capital markets Banks and mutuals Investment funds and asset management Regulation of insurance Financial Services Enforcement Database Daily and weekly news alerts Intraday news alerts New and updated content Dates for your diary Prudential requirements EBA updates systemic importance indicators for G-SIIs. The European Banking Authority (EBA) has refreshed the set of 13 systemic importance indicators, together with the underlying data, for the EU’s 33 largest institutions whose leverage ratio exposure measure exceeds EUR 200 bn. The release also provides revised figures and data items reflecting recognition of the Banking Union and of institutions within the Single Resolution Mechanism. This dataset is updated on an annual cycle. See: LNB News 27/08/2024 20. Financial crime and sanctions IEA publishes discussion paper on...

In this issue: UK, EU and international regulators and bodies Authorisation, approval and supervision Prudential requirements Financial crime and sanctions Conduct requirements Complaints, compensation and claims management Investigations, enforcement and discipline Regulation of capital markets Sustainable finance and ESG Consumer credit, mortgage and home finance Regulation of insurance FSMA regulated pensions activity Payment services and systems Fintech and cryptoassets LexTalk®Financial Services: a Lexis®Nexis community Financial Services Enforcement Database Daily and weekly news alerts Intraday news alerts New and updated content Dates for your diary UK, EU and international regulators and bodies HMT consults on proposed integration of PSR functions into FCA framework HM Treasury (HMT) has launched a consultation proposing to fold the Payment Systems Regulator’s (PSR) remit into the Financial Conduct Authority (FCA) under the government’s Regulatory Action Plan. The intention is to streamline the payments regulatory landscape by reducing the number...

In this issue EU fundamentals Competition and state aid Data protection and cybersecurity Financial services Energy Environment Insurance and reinsurance Life sciences Regulatory TMT Daily and weekly news alerts New and updated content Trackers EU fundamentals EU Law—key developments in 2025 and horizon scanning for 2026 This News Analysis distils the principal EU developments from 2025 and highlights what is expected in 2026. See News Analysis: EU Law—key developments in 2025 and horizon scanning for 2026. Competition and state aid Antitrust—Google and Alphabet v Commission An application for annulment has been submitted to the General Court in Case T-794/25, Google and Alphabet v Commission, contesting the Commission’s prohibition decision on Adtech and data-related practices (abuse of dominance) (AT.40670), under Article 102 TFEU and Article 54 of the EEA Agreement—see further, application. See News Analysis: EU Competition law—daily round-up (12/01/2026). Foreign Subsidies Regulation—Commission’s guidelines The Commission...

Resource Note This Resource Note signposts key commentary, analysis and materials to aid interpretation and offer practical direction on using Chapter 2 of the Disclosure Guidance and Transparency Rules (DTR 2). Where relevant, it draws on: the Financial Conduct Authority (FCA) Handbook FCA Knowledge Base—Procedural and Technical notes (formal guidance binding on the FCA) FCA consultation and discussion papers, policy and feedback statements, and warnings Primary Market Bulletins and other FCA publications legacy UKLA technical and procedural notes and the UKLA’s newsletter List!, where still pertinent assimilated EU legislation EU Directives and EU Regulations, where helpful to construing a provision Lexis+® UK analysis and resources Setting the scene What it covers: DTR 2 prescribes the framework for issuers to disclose and manage inside information, supporting timely and even-handed release of market-sensitive information. It also identifies specific situations permitting a delay to public disclosure of inside information, together with the safeguards required to keep such information...

This Resource Note spotlights commentary, analysis and materials to aid interpretation and give practical guidance on applying Chapters 1, 1A, 1B and 1C of the Disclosure Guidance and Transparency Rules: DTR 1, DTR 1A, DTR 1B and DTR 1C respectively. Materials referenced here include, where pertinent: the Financial Conduct Authority (FCA) Handbook FCA Knowledge Base guidance—Procedural notes and Technical notes (constituting formal guidance and binding on the FCA) FCA consultation papers, discussion papers, policy statements, feedback statements and warnings Primary Market Bulletins and other FCA publications former UKLA technical and procedural notes and the UKLA newsletter List!, where still relevant to interpreting or applying a provision assimilated EU legislation EU Directives and EU Regulations, where relevant to interpreting a provision Lexis+ UK analysis and resources Setting the scene What it covers: DTR 1 sets out the Disclosure guidance, explaining its scope and purpose; DTR 1A sets out the transparency rules with their scope and purpose;...

Meaning of ‘non-executive director’ The broad definition of ‘director’ is not closed. Under the Companies Act 2006 (CA 2006), a director is any person who occupies the office of director, whatever title they hold. Accordingly, this covers both executive and non-executive directors (NEDs). Executive directors are typically authorised, either by the company’s constitution or by authority delegated from the board, to manage the company’s day-to-day affairs, and they usually have a full-time service contract. NEDs generally: have no executive powers play a pivotal role in the company’s corporate governance are not employees of the company There are a number of challenges around granting shares to NEDs. This Practice Note considers the issues to assess when offering shares or share-based remuneration to NEDs, including: the potential impact on the NED’s independence the share dealing provisions of Assimilated Regulation (EU) 596/2014 for the UK, and the Market Abuse Regulation (Regulation (EU) 596/2014) previously and for the EU ...

This precedent memorandum This precedent memorandum presents a specimen group-wide dealing policy issued by The Chartered Governance Institute (formerly known as ICSA: The Governance Institute) (CGI), GC100, the Quoted Companies Alliance (QCA) and other market participants too. It was created after the Financial Conduct Authority (FCA) chose to remove the Model Code, which had formed part of the listing rules, because it conflicted with the EU Market Abuse Regulation that came into force on 3 July 2016. The CGI, GC 100 and the QCA agreed that it would be greatly beneficial for listed and quoted companies to be able to refer to an equivalent version of the Model Code. Companies with a former premium listing of equity shares had previously been required to comply with the Model Code, which restricted persons discharging managerial responsibilities (PDMRs) from dealing in the company’s securities at certain times. The intention is that listed and AIM companies should apply the group-wide dealing policy to PDMRs, their employees and their subsidiaries, to provide an introduction...

This precedent memorandum outlines the processes to be observed by a listed company and its subsidiaries when transacting in the company’s securities. Its aim is to support the company in meeting its duties under the UK Market Abuse Regulation (Assimilated Regulation (EU) 596/2014) and to confirm that appropriate systems and procedures exist to help persons discharging managerial responsibilities (PDMRs) and other staff within the company and its subsidiaries fulfil their responsibilities under the company’s Dealing Code and the UK Market Abuse Regulation. This precedent arises from an industry‑led creation of codes, guidance and best practice produced by The Chartered Governance Institute (formerly known as ICSA: The Governance Institute), GC100, the Quoted Companies Alliance and other market participants. Additionally, the memorandum addresses dealing processes across the company and its subsidiaries, associated clearance requirements and potential refusal circumstances. Index No. Content Page Introduction [ page number ] Part A—General dealing requirements [ page number ] 1. Dealings by Restricted Persons [ page number ] 2....

Article 18(1) of the UK Market Abuse Regulation (Assimilated Regulation (EU) 596/2014 (UK Market Abuse Regulation)) An issuer, or any person acting for an issuer or on the issuer’s account, is obliged to compile a list of all individuals who have access to inside information and who work for them under an employment contract, or who otherwise carry out tasks that provide access to such information, for example advisers, accountants, or credit rating agencies...