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FCA Speech on Market Abuse in a Time of Coronavirus

FCA Speech on Market Abuse in a Time of Coronavirus

At the City Financial Global event, Julia Hoggett,  FCA Director, Market Oversight, delivered a speech on Market Abuse in the Time of Coronovirus. Highlights

  • It is hugely important to us that we have the opportunity to give these speeches as they support all market participants to play their part in ensuring our markets are clean.
  • Our focus on markets remaining open is driven by the fundamental role they play in supporting the economy – in enabling risk to be priced and managed, but equally, enabling institutions to raise capital at times when they need it the most.
  • Whilst the fundamentals of the market abuse offences are constant, the ways in which the risk may manifest are not. The manner of surveilling for them must, therefore, also change.
  • Our expectation is that going forward, office and working from home arrangements should be equivalent – this is not a market for information that we wish to see be arbitraged.
  • Market abuse is not an offence that only applies to individuals working in the financial services industry. Any individual in receipt of inside information who trades while in possession of that information, or induces someone else to, is guilty of market abuse.
The full speech can be viewed HERE