The Market Abuse Regulation becomes law on 3 July 2016 and will replace the UK's existing civil regime. The Regulation will rely on a range of secondary legislation including a number of regulatory and implementing technical standards.

In March, the Commission published the following:

  • a delegated regulation setting out the regulatory technical standards for the conditions applicable to buy-back programmes and stabilisation measures (if neither the Council nor European Parliament raise any objections, it will enter into force on the day after its publication in the Official Journal of the EU and apply from 3 July 2016) – to see the text in full, click here,
  • an implementing regulation setting out the implementing technical standards with regard to the precise format of insider lists and for updating insider lists ((the regulation entered into force on 12 March 2016 (the day after its publication in the Official Journal) and applies from 3 July 2016) - to see the text in full, click here, and
  • an implementing regulation setting out the implementing technical standards with regard to the timing, format and template of the submission of notifications to competent authorities by operators of regulated markets and investment firms, and operators of multilateral or organised trading facilities (the regulation entered into force on 18 March 2016 (the day after its publication in the Official Journal) and applies from 3 July 2016) - to see the text in full, click here.