Suspicious transaction and order reports (STORs) under the Market Abuse Regulation
Suspicious transaction and order reports (STORs) under the Market Abuse Regulation

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

  • Suspicious transaction and order reports (STORs) under the Market Abuse Regulation
  • Definition of STOR
  • Obligation to prevent and detect market abuse
  • Timing of STORs
  • Content of STORs
  • Method of submitting STORs
  • Confidentiality
  • Market observations

BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. Following IP completion day, key transitional arrangements come to an end and significant changes begin to take effect across the UK’s legal regime. This document contains guidance on subjects impacted by these changes. Before continuing your research, see: Brexit and financial services: materials on the post-Brexit UK/EU regulatory regime.

Definition of STOR

A suspicious transaction and order report (STOR) is a report on suspicious orders and transactions, including any cancellation or modification thereof, that could constitute insider dealing, market manipulation or attempted insider dealing or market manipulation, to be made pursuant to Articles 16(1) and (2) of Regulation (EU) 596/2014 (the Market Abuse Regulation).

For information on insider dealing, see Practice Note: Market Abuse Regulation (MAR)—essentials—Insider dealing.

For information on market manipulation, see Practice Note: Market Abuse Regulation (MAR)—essentials—Market manipulation.

Obligation to prevent and detect market abuse

Persons professionally arranging or executing transactions are required to establish and maintain arrangements, systems and procedures that ensure:

  1. effective and ongoing monitoring of all orders received and transmitted and all transactions executed, for the purposes of detecting and identifying orders and transactions that could constitute insider dealing, market manipulation or attempted insider dealing or market manipulation, and

  2. the transmission of STORs to competent authorities

The same obligation applies to market

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