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The Financial Services and Markets Act 2000 (Market Abuse) Regulations 2016

Consolidated Text As Enacted Cited authorities 126 Cited in Amendments 57 Related
Vincent
JurisdictionUK Non-devolved
CitationSI 2016/680
Year2016
  • These Regulations may be cited as the Financial Services and Markets Act 2000 (Market Abuse) Regulations 2016 and come into force on 3rd July 2016.
  • In these Regulations—
  • . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
    • (1) Where an issuer or an emission allowance market participant delays the disclosure of inside information under Article 17.4 (public disclosure of inside information) of the market abuse regulation it is required to provide a record of its written explanation of how the conditions set out in Article 17.4 were met to the F123FCA only upon the FCA's request.(2) In this regulation—
    • “emission allowance market participant” has the meaning given in Article 3.1 (20) of the market abuse regulation; and
    • “issuer” has the meaning given in Article 3.1(21) of the market abuse regulation.
  • The Schedule (reporting of actual or potential contraventions of the market abuse regulation to the FCA) has effect.
    • be made in such manner as the FCA may direct; andcontain or be accompanied by, such other information as the FCA may reasonably require.(2) At any time after receiving an application and before determining it, the FCA may require the applicant to provide it with such further information as it reasonably considers necessary to enable it to determine the application.(3) Different directions may be given, and different requirements imposed, in relation to different applications or categories of application.(4) The FCA may require an applicant to provide information under this regulation in such form, or to verify it in such a way, as the FCA may direct.(5) Section 398
  • Any notification to the FCA under the market abuse regulation or a
    • (1) Part 6 of the 2000 Act is amended as follows.omit subsection (3) ; andin subsection (6) omit “, disclosure rules”.omit subsection (1ZA) ; andin subsection (2) omit “(1ZA) (a) ,”.(4) Omit sections 96A (disclosure of information requirements) to 96C (suspension of trading) (5) In section 97(1) (b) (6) For section 102A(4) “Financial instrument” has the meaning given in Article 4.1.17 of the markets in financial instruments directive .for subsection (5) (c) substitute—
    • (c) a prescribed market.
    ; and    a prescribed market.after subsection (5) insert—
    • “(5A) The Treasury may make regulations to specify (whether by name or description) the markets which are prescribed markets for the purposes of subsection (5) (c) .
    .    The Treasury may make regulations to specify (whether by name or description) the markets which are prescribed markets for the purposes of subsection (5) (c) .(8) In section 102C(a) (9) In section 103(1) (10) Omit Schedule 11B (1) Part 8 of the 2000 Act is amended as follows.(2) For the heading of Part 8 substitute “ Provisions relating to market abuse ”.(3) Omit sections 118 (market abuse) to 122 (effect of the code) (4) Before section 123 the interests of users of financial markets and exchanges in the United Kingdom; orthe orderly operation of financial markets and exchanges in the United Kingdom; orany information or explanation the FCA reasonably requires to verify whether Article 17 (public disclosure of inside information) or Article 19 (managers' transactions) of the market abuse regulation

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