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The FSA’S new market abuse regime - Interaction between the market abuse regime and the Recognised Investment Exchanges

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Abstract

This article explains the new market abuse regime’s approach in broad terms. It will be introduced by the Financial Services and Markets Act 2000 (the act) when it takes effect in summer 2001. It also explains the interaction between the new regime and the rules of the Recognised Investment Exchanges (RIEs) as well as the fact that there are fewer grounds for concern than market participants believe. The importance of this interaction was underlined in many of the response papers to the Financial Services Authority’s (FSA) Consultation Paper 59: The Draft Code of Market Conduct” (the code) Many of these responses expressed concerns about the prospect of the FSA taking action under the market abuse regime against a member of a RIE when that member had complied with the RIE’s rules. However, this detailed analysis is preceded by a description of the rationale for the new market abuse regime.

Suggested Citation

  • Strachan, David & Wisbey, Gay, 2001. "The FSA’S new market abuse regime - Interaction between the market abuse regime and the Recognised Investment Exchanges," Journal of Financial Transformation, Capco Institute, vol. 1, pages 54-58.
    • Handle: RePEc:ris:jofitr:0853
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    More about this item

    Keywords

    Recognised Investment Exchanges; financial market regulations;

    JEL classification:

    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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