New FRC consultation on the implementation of the Sharman Panel recommendations *

United Kingdom - January 31 2013
On 30 January 2013, the Financial Reporting Council (FRC) announced a consultation on its proposed guidance for directors and standards for auditors…

Co-authors: Guy Potel , Danette Antao.

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Takeover Panel's comments on the operation of the revised Code *

United Kingdom - December 4 2012
When the Takeover Code was substantially amended on 18 September last year, the Code Committee stated its intention to review the operation of the changes no less than a year after their implementation.

Co-authors: Bernard Wall, Richard Ufland.

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Wall crossings and insider dealing – Financial Services Authority levies the second highest ever fine against Greenlight Capital hedge fund trader David Einhorn *

United Kingdom - February 1 2012
On 12 January 2012, the Financial Services Authority ("FSA") levied its second highest ever fine of £3,638,000 against US hedge fund trader David Einhorn and a fine of £3,650,795 against Greenlight Capital Inc for market abuse.

Co-authors: Zoey Handforth, Richard Ufland.

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Extension of market abuse sunset clauses in FSMA *

United Kingdom - February 1 2012
Following an informal consultation by HM Treasury in September 2011, The Financial Services and Markets Act 2000 (Market Abuse) Regulations 2011 (the "Regulations") were published on 8 December 2011.

Co-authors: Zoey Handforth, Richard Ufland.

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ESMA's guidance that dividend policy can constitute inside information *

European Union - February 1 2012
On 9 January 2012, the European Securities and Markets Authority ("ESMA") published a Question and Answer paper on the common operation of MAD (the "Paper").

Co-authors: Zoey Handforth, Richard Ufland.

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