Representing financial market professionals based in France

Market abuse

The new Market Abuse Regulation will come into force on 3 July. Some of the Level 2 measures, including the implementing regulations and the delegated regulation, were recently published in the OJEU. One of the main thrusts is the Implementing Technical Standards on the format of insider lists. 
In early March the European Commission published five draft delegated Regulations that are currently subject to the right of the European Parliament and the Council to raise objections. The focal points are investment recommendations, prevention and detection of suspicious orders and transactions, the content of notifications to competent authorities, rules on buyback programmes and stabilisation, and accepted market practices.

AMAFI is currently drawing up a Q&A on issues of particular concern regarding implementation of the Market Abuse Regulation. It is drawing on discussions with the AMF in recent weeks and intends to publish the document in June, before the Regulation comes into force.