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The Training Environment For Financial Services
You are looking at one of our in-house courses. Many of our in-house programmes are also available as open courses on specific dates. Click here to see our open course calendar.
Market abuse refers to the unlawful behaviour of one or more participants in the financial markets which compromise the market's integrity, resulting in an unjust advantage for a select few individuals responsible for the harm while disadvantaging other investors. It reduces public confidence and consequently market participation.
While market abuse is as old as the financial markets, more recently, the EU Market Abuse (MAR) legislation of 2016 was onshored into UK legislation in December 2020 and incorporated into the FCA's handbook, bringing more clarity to the industry.
UK MAR makes insider dealing, unlawful disclosure, market manipulation and attempted manipulation civil offences and gives the FCA powers and responsibilities for preventing and detecting market abuse.
For breaches of UK MAR, the FCA has the power to impose unlimited fines, order injunctions, or prohibit regulated firms or approved persons. It also the power to investigate and bring criminal cases to court. Criminal sanctions for insider dealing and market manipulation can incur custodial sentences of up to 10 years and unlimited fines.
The objective of the course is to provide an overview of the different types of market abuse, how they might occur and the risk to firms. We will look at the recent trends in market abuse and provide case examples.
We will discuss the various requirements under MAR including prevention, detection and reporting regulations in light of the FCA's new business plan 2023/2024 and the new Consumer Duty regulations.
By the end of this course you will have a comprehensive understanding of the types of market abuse, the significance of this on a firm's risk profile, the FCA regulations and what firms should do to protect themselves.
