Brexit—UK Market Abuse Regulation—guide to the changes for corporate lawyers
Brexit—UK Market Abuse Regulation—guide to the changes for corporate lawyers

The following Corporate practice note provides comprehensive and up to date legal information covering:

  • Brexit—UK Market Abuse Regulation—guide to the changes for corporate lawyers
  • Article 2—scope
  • Article 3—definitions
  • Definitions taken from the UK Markets in Financial Instruments Regulation (UK MiFIR)
  • Article 5—exemption for buy-back programmes and stabilisation
  • Article 9—legitimate behaviour
  • Article 11—market soundings
  • Article 12—market manipulation
  • Article 13—accepted market practices
  • Article 17—public disclosure of inside information
  • More...

Brexit—UK Market Abuse Regulation—guide to the changes for corporate lawyers

This Practice Note highlights the main changes made to Retained Regulation (EU) 596/2014 (UK Market Abuse Regulation) as part of the onshoring process which are of importance to corporate lawyers. It looks at the amendments made to article 2 (Scope), article 3 (Definitions), article 5 (Exemption for buy-back programmes and stabilisation), article 9 (Legitimate behaviour), article 11 (Market soundings), article 12 (Market manipulation), article 13 (Accepted market practices), article 17 (Public disclosure of inside information), article 18 (Insider lists) and article 19 (Managers’ transactions).

The following statutory instruments are relevant when looking at the amendments made to the UK Market Abuse Regulation:

  1. Market Abuse (Amendment) (EU Exit) Regulations 2019 (Market Abuse Regulations 2019) made on 18 February 2019

  2. Gibraltar (Miscellaneous Amendments) (EU Exit) Regulations 2019 (made 26 March 2019) which made amendments to the Market Abuse Regulations 2019 to make appropriate provision in relation to Gibraltar (see regulation 8), such amendments came into force immediately before IP completion day

  3. Financial Services (Electronic Money, Payment Services and Miscellaneous Amendments) (EU Exit) Regulations 2019 (made 5 September 2019) which made amendments to the Market Abuse Regulations 2019 (see regulation 15) which came into force on 6 September 2019

  4. Financial Services and Economic and Monetary Policy (Consequential Amendments) (EU Exit) Regulations 2019 (made 17 November 2020) which substituted the

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