European Market Abuse Regulation (MAR), Directive (MAD II), ESMA Guidance and Whistle Blowing Process

Integrated and efficient markets require the existence of sound and stable market structures. The smooth functioning of the markets can boost public confidence and create economic growth.

Market abuse harms the idea of integrated markets and undermines people’s confidence in the financial system. It is essentially the product of insider dealing and market manipulation.

In order to remove the existing barriers and avoid the problems created by the divergence in local legislations a new Regulation was considered more appropriate. The Rule was established in April 2014, Rule (EU) 596/2014. This rule is namely called MAR (Market Abuse Regulation) and includes all the provisions for this area. Two years later in 2016 the Government introduced Law 102 (I) 2016, that covers some additional aspects.

Training Objectives

Participants of this seminar will attain an understanding of the basic actions that constitute market abuse and become familiar with the obligations for listed companies, their management teams and employees, as well as other professionals.

Training Outline

• Market Abuse Framework, EU Rule 596/2014
• Inside information, insider dealing, unlawful disclosure of inside information and market manipulation
• Disclosure Requirements
• ESMA and Competent Authorities
• Administrative measures and sanctions
• Delegated Acts and Implementing Act
• Law 102 (I) 2016

Training Style

The training style will include the presentation of all the material using slides and handouts.  The trainer will use practical examples to elaborate various concepts as well as show various videos that highlight particular course concepts and encourage class discussion.  Participants will engage in exchange of ideas and sharing of knowledge on the subject matter.  Participants will also be able to ask questions and obtain clarifications from the trainer on all the material covered.

Who Should Attend

The programme is aimed at all professionals employed in Financial Institutions, Credit Institutions, Investment Firms and Funds who need to have a sound understanding of the market abuse framework, and will be of particular benefit to those within the compliance function.

Furthermore, it will be of benefit to Fund Managers, Fund Administrators and other Professionals who wish to refresh their knowledge on Market Abuse Regulation, such as Lawyers, Accounting Firms and Corporate Service Providers.