M&A Weekly Update: market abuse — UK rules will continue to be super-equivalent; and other items

In last week’s update, we noted that, following official publication on 12 June, a new EU directive and regulation on market abuse will be implemented across the EU within the next two years. The UK had previously announced its decision not to opt in to the directive. It is now clear, following publication by HM Treasury, the Bank of England and the Financial Conduct Authority of the ‘Fair and Effective Financial Markets Review’ that the government intends to stand behind that decision. It announced that the UK will ‘not opt in to EU rules — our own rules will be as strong or stronger than those of the EU, but will preserve flexibility to reflect specific circumstances in the UK’s globally important financial sector’.

The UK currently maintains super-equivalent market abuse rules, over and above those required by EU law. The government’s announcement that it may implement stronger market abuse rules when the EU rules become effective in July 2016 may not be welcomed by all. The announcement, made on the same day that the EU rules were officially published, departs from the government’s previously stated intention that it would generally avoid gold-plating EU provisions…

Click on the link below to read the rest of the Macfarlanes briefing.

Sign in or Register to continue reading this article

Sign in

Register

It's quick, easy and free!

It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.

Register now

Why register to The Lawyer

 

Industry insight

In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.

 

Market intelligence

Identify the major players and business opportunities within a particular region through our series of free, special reports.

 

Email newsletters

Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.

More relevant to you

To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.

Briefings from Macfarlanes

View more briefings from Macfarlanes

Analysis from The Lawyer

View more analysis from The Lawyer

Browse This Firm’s

Overview

20 Cursitor St
London
EC4A 1LT

Turnover (£m): 139.75
No. of lawyers: 260