Firms should consider the implications for their existing anti-market abuse controls and should consider responding to the consultation either directlyor through a relevant industry body.

On 5 April 2018, we reported in an initial alert that the UK Financial Conduct Authority (FCA) is consulting upon updating its Financial Crime Guide (FCG), including adding a new chapter 8 on insider dealing and market manipulation. This is the first time that the FCA has sought to address market misconduct crimes through the FCG.