Market Abuse: ensuring compliance under MAR

Outline and Objectives

The Financial Conduct Authority (FCA) is once more highlighting the importance of the market abuse requirements since the Market Abuse Regime (MAR) came into force in July 2017. The regulatory has specifically highlighted to issue to buy-side firms. 

The Market Abuse Regime (MAR) and Criminal Sanctions Directive (CSMAD), commonly known as MAD II, are an extension of the Market Abuse Directive (MAD), implemented in 2005. The regime resulted in an EU-wide Market Abuse Regime across financial services. It established a framework for developing orderly flows of information to maintain a level playing field for market participants.

MAD II introduced criminal sanctions of insider dealing and market manipulation as well as aligning international interpretations of MAD forming a harmonised approach across Europe and the rest of the financial world.

This workshop will provide delegates with an opportunity to revisit the proposals aimed at strengthening and improving market integrity, examine the regulatory expectations in the UK, which extended to financial instruments and trading venues underthe Markets in Financial Services Directive and Regulation (MiFID II).

Making extensive use of PRACTICAL ILLUSTRATIONS and EXAMPLES, this focused course will help you:

• Understand the scope and importance of the Market Abuse reforms and the key regulatory challenges across MAD II, including increased monitoring and surveillance of trading venues and financial instruments
• Examine the implications of changes introduced by the Market Abuse Regime, including Market Soundings, Issuer Disclosure of Information, Directors' Transactions and enhanced regulatory powers
• Be aware of how market abuse requirements interact with other European regulations including MiFID II
• Review real world examples of market abuse from the United Kingdom and around the world
• Pinpoint the key financial risks affecting your business because of change, knowledge, training  and awareness

Who will benefit?

This workshop will be of benefit to anyone who is likely to be working within the market abuse requirements and wishes to develop a greater understanding of the regime, including Senior Management, Legal, Compliance and those employees at the coalface or conducting an assurance review as part of the second or third lines of defence. 

Training Approach

This workshop is designed to be participative throughout. The agenda will combine key formal presentations, case studies and syndicate discussion sessions. There will be ample opportunity for delegates to benchmark experiences with industry peers and raise issues of most concern to their organisation, either confidentially or in open session.

Course Agenda

Topics covered may include but are not limited to:

The European Market Abuse Landscape

• Defining Insider Dealing and Market Abuse
• Examples of Market Abuse including insider dealing and market manipulation
• European Union framework for market abuse
• Instances where Market Abuse might occur in the front office
• Real-world examples of market abuse from the United Kingdom and around the world

Practical Challenges for Front Line Surveillance

• Critical financial risks
• Significant changes and proposals, including market soundings and manager transactions;?
• Partners within your business to leverage to ensure appropriate development and implementation of surveillance processes
• Processes that support efficient and practical application and enhance business operations

Meeting Regulatory Expectations

• Supervisory approach by the Financial Conduct Authority
• Management Information specific to your business - building a collaborative and transparent partnership across stakeholders for the monitoring of financial crime
• Regulatory tools including Whistleblowing and recording telephone conversations
• Examples of enforcement from the global perspective