Market abuse

A civil offence under the Market Abuse Regulation ( www.practicallaw.com/5-626-6147) (MAR). For the purposes of MAR, market abuse encompasses unlawful behaviour in the financial markets and consists of:

  • Insider dealing (Article 14, MAR).

  • Unlawful disclosure of inside information (Article 14, MAR).

  • Market manipulation (Article 15, MAR).

Before 3 July 2016, the civil offence of market abuse was set out in Part VIII of the Financial Services and Markets Act 2000 ( www.practicallaw.com/7-107-5760) .

A separate market abuse regime that applies to auctioned products is set out in Chapter X of Commission Regulation (EU) No 1031/2010 of 12 November 2010 on the timing, administration and other aspects of auctioning of greenhouse gas emission allowances pursuant to Directive 2003/87/EC of the European Parliament and of the Council establishing a scheme for greenhouse gas emission allowances trading within the Community.

The glossary to the FCA Handbook ( www.practicallaw.com/5-107-6609) sets out the full definition of this term. When considering this term in the context of financial services reference should be made to the FCA Handbook glossary definition of market abuse.

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