[author: Katrina Murphy]
On November 20, the Financial Services and Markets Act 2000 (Market Abuse) Regulations 2014 were published with an accompanying explanatory memorandum. The Regulations were made on November 19, and come into force on December 15. They amend the Financial Services and Markets Act 2000 (FSMA) to extend until July 3, 2016 the expiry dates of:
-
the prohibition on market manipulation (s118(8) FSMA);
-
the associated provisions (s118A(2) and (3) FSMA); and
-
the definition of “regular user” (s130A FSMA).
On July 3, 2016, the Market Abuse Regulation (MAR) will take effect and the above FSMA provisions will then expire. The s118(8) prohibition will be replaced by a prohibition with similar scope under MAR. Regulation. Explanatory Memorandum.
