Clifford Chance

The countdown begins: 12 months to implementation of a new market abuse regime

7 July 2015

The current UK market abuse regime is derived from the EU Market Abuse Directive (MAD) which established an EU-wide framework for tackling market abuse and market manipulation. However, since MAD's adoption in 2003, the financial markets have seen both the creation of new forms of financial instruments and the emergence of new trading platforms. This has been coupled with a poor track record for the prevention and enforcement of market abuse in some Member States. Against this backdrop, the Market Abuse Regulation (MAR) was negotiated and is intended to update and strengthen the existing EU market abuse regime. Companies will need to start planning now to ensure they are ready for the implementation of MAR in July 2016.

Download PDF