On June 30, 2016, the FCA published a Policy Statement setting out its final text of the changes to the Decision Procedure and Penalties Manual and the Enforcement Guide to implement MAR. MAR introduced a revised civil market abuse regime and applied directly across the EU from July 3, 2016, except for those concepts that stem from the revised Markets in Financial Instruments package that will be introduced in January 2018. The FCA has amended and updated its rules and guidance to bring them in line with MAR. The changes, amongst other things, amend the scope of the FCA's powers to impose financial penalties, public censure and sanctions for breaches of MAR or any of its underlying legislation. The new powers include the power to prohibit an individual from carrying out a management function or dealing in financial instruments on their own account. The amended rules and guidance applied from July 3, 2016.
The Policy Statement is available at: https://www.fca.org.uk/publication/policy/ps16-18.pdf.