Market Abuse Regulation

Clear and comprehensive analysis of the market abuse regime in the UK and EU
Discusses how UK and EU regulations interact with existing US regulation
Updated edition includes additional material on important enforcement policy decisions and significant market abuse cases since the implementation of the EU Market Abuse Directive in the UK in July 2005
Includes critical commentary on new FSA and Tribunal decisions
One of the authors has played a key role in advising the European Commission's work examining whether the EU ETS allowances market is sufficiently protected from market abuse organizing the oversight of the European carbon market and securing the market integrity of auctioning and trading in the market
New to this edition

Updated to include important policy changes such as the FSA's shift towards 'principle-based' enforcement and the increased focus on senior management liability
Updated to include significant market abuse cases to show how the regulation has been interpreted and modified
The second edition of Market Abuse Regulation offers a detailed analysis of the market abuse regime and the application of the regulations in the UK and EU. The work is of great value to financial services lawyers and companies who need a succinct, comprehensive and up to date analysis of the regime and the implications for their businesses.

Consideration is given to the implementation and interpretation of the regulations, the conduct of investigations, the defences and appeals available against a finding of market abuse, and overlapping US regulation.

Since the implementation of the EU Market Abuse Directive in the UK dates only from 2005, detailed consideration is given to the important enforcement policy decisions and market abuse cases which have been recently decided by the FSA and referred to the Financial Services Markets Tribunal. In particular, the new edition examines the modifications to enforcement procedures by the FSA, the move towards a more 'principles-based' approach to enforcement and the increased focus on senior management liability.


Readership: Legal practitioners in the financial services and criminal law sectors, compliance professionals, regulators and academics.


Edward J Swan, Counsel, Financial Services, Skadden, Arps, Slate, Meagher & Flom LLP & Affiliates, and John Virgo, Barrister, Guildhall Chambers, Bristol


Introduction
1: Evolving Regulation
2: Promoting Fair Markets
3: Defining Market Abuse
4: Insider Dealing
5: Market Manipulation
6: Interpretation
7: Scope of Coverage
8: Judging Behaviour
9: Enforcement Procedure
10: Penalties
11: Defences
12: Hearing and Appeals
13: Criminal Law
14: Market Abuse Cases
15: Overlapping US Regulation
16: Conclusion

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