The following Financial Services guidance note Produced in partnership with Mark Compton and Lauren Smith of Mayer Brown International LLP provides comprehensive and up to date legal information covering:
BREXIT: As of exit day (31 January 2020) the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has entered an implementation period, during which it continues to be subject to EU law. This has an impact on this Practice Note. For further guidance, see Practice Note: Brexit—UK listing and prospectus regime — Key areas of the UK listing and prospectus regime which will be affected by Brexit.
The Market Abuse Regulation came into effect on 3 July 2016. It aims to increase market integrity and investor protection and enhance the attractiveness of securities markets for capital raising. The Market Abuse Regulation strengthens the previous UK market abuse framework by extending its scope to additional markets, platforms and behaviours. It contains prohibitions on insider dealing, unlawful disclosure of inside information and market manipulation, and provisions to prevent and detect these.
The Market Abuse Regulation applies to:
financial instruments admitted to trading on a regulated market or for which a request for admission to trading on a regulated market has been made
financial instruments traded on a multilateral trading facility (MTF), admitted to trading on an MTF, or for which a request for admission to trading on an MTF has been made
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