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Part VI Public Interest and Insolvency Proceedings, 32 Civil Penalties for Market Abuse

Robert Amey

From: Company Directors: Duties, Liabilities, and Remedies (4th Edition)

Edited By: Mark Arnold KC, Simon Mortimore KC

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2023. All Rights Reserved.date: 17 July 2024

Approved person — Conduct of business regulation — Market abuse — Regulated persons

This chapter considers the civil penalties for market abuse. It starts with the history of market abuse legislation, which includes the amendments made to the Financial Services and Markets Act 2000 (FSMA) in an effort to implement the Market Abuse Directive (2003/6/EC) (‘MAD’). The EU Market Abuse Regulation (EU MAR) establishes a common regulatory framework for insider dealing, the unlawful disclosure of inside information and market manipulation. The chapter also covers the obligation to disclose information surrounding the managers' transitions during the closed period. It discusses the sanctions concerning relevant provisions of MAR and administrative sanctions, injunctions, and restitution under the FSMA.

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