MAR Review Report

Introduction The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, published a MAR Review Report on 24 September 2020. The Report is the first in-depth review of the functioning of MAR since its implementation in 2016. ESMA ran a consultation in 2019 and the feedback from 97 respondents focused on requests for…

PDMR failure to disclose trades

The FCA process The penalties – a live example (or, how to wipe out the entire value of your share sale!) In our article dated 7 January we highlighted details of the first case brought by the FCA in respect of article 19(1) of the Market Abuse Regulation. Full details of the case and explanation…