These obligations are set out in the Financial Conduct Authority’s (FCA) Listing Rules and, until 3 July 2016, the Disclosure and Transparency Rules. The EU Market Abuse Regulation (MAR) will come into force on 3 July 2016 and replaces the Market Abuse Directive governing regulations concerning market abuse. Many of the requirements under MAR are similar to those currently reflected in the Disclosure Rules. However, changes to the Disclosure Rules in order to comply with MAR will include deleting many of the rules, amending others and providing hyperlinks in other instances directly to the relevant MAR provision.
This Briefing provides an overview of the new Market Abuse Regulation in relation to inside information.