10/13/2016 12:00 p.m. - 01:00 p.m. EDT
Capital Markets, Banking + Financial Services, Financial Institutions + Financial Services, Financial Institutions | Europe, and Investment Management
Peter J. Green and Jeremy C. Jennings-Mares
Jeremy C. Jennings-Mares and Peter J. Green
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The coming into force of the EU’s Market Abuse Regulation in July 2016 introduced many new obligations for issuers and arrangers of capital instruments, as well as changes to existing practices. The offences relating to insider dealing, “tipping off” and market abuse look familiar, but the scope of the market abuse regime has been broadened considerably compared to the previous Market Abuse Directive, both in terms of trading venues covered and as to the types of instruments captured.
As well as the market manipulation offences, we will examine the key obligations for issuers, both EU and non-EU, in relation to the safeguarding, control and disclosure of inside information and the requirements on their executives and managers and connected persons under MAR. We will also examine the scope of exemptions designed to allow legitimate market transactions, such as buy-backs, stabilization and market-soundings, as well as “legitimate behavior” defences.
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