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4th February 2016
AIM Firms - Are you ready for the New Market Abuse Regulation?
The New Market Abuse Regulation (MAR) becomes effective on 3rd July 2016, replacing the existing Market Abuse Directive (MAD) and bringing additional financial instruments from new trading venues within its scope.
Whilst MAD only applies to those financial instruments that are admitted to trading on ‘regulated markets’ the new Market Abuse Regulation (MAR) will include the alternative investment market (AIM) as the regulation will apply to those financial instruments admitted to all Multilateral Trading Facilities (MTFs) within the EEA.
MAR thus presents a significant expansion to the scope of the current market abuse regime and, as a law, will be directly applicable across the EU.
ACTION: With only a few months to go until MAR takes effect, AIM firms should now be updating their internal processes and procedures for the changes MAR will bring.
In particular AIM firms should ensure they understand:
As discussed, MAR goes beyond overseeing trading upon regulated markets and brings additional instruments within its scope. These include financial instruments:
If you would like to discuss how the new Market Abuse Regulation may affect your business and what you may need to do to finalise your MAR preparations, please contact our regulatory and compliance specialists who would be happy to help.
New Market Abuse Regulation to Apply to AIM Firms
The European Securities and Markets Authority (ESMA) is set to maintain a list of all those financial instruments that will come under the scope of MAR, however as this list will not be exhaustive or definitive you may be uncertain as to whether a specific instrument is covered.
If you would like to discuss how the new Market Abuse Regulation may affect your business and what you may need to do to finalise your MAR preparations, please call our regulatory and compliance specialists for a no obligation chat.
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