Recorded Webinar: Market Abuse Regulation: How to Detect and Analyse Abusive Market Transactions
Market abuse is a potential problem for many financial institutions. It typically covers insider dealing, unlawful disclosure of inside information, and market manipulation, and is often difficult to detect and report in line with regulations such as Market Abuse Regulation – or MAR, and its UK equivalent.
While compliance with MAR is a challenge, non-compliance carries heavy penalties for both institutions and individual employees. ESMA issued 366 penalties totaling over €54 million in 2022, and in December only, the FCA fined three brokers over £4 million.
These eye-watering fines, as well as reputational damage, sanctions against the business, and ultimately, custodial sentences, result from failure to comply with appropriate monitoring and reporting. But there are solutions that can help firms stay on the right side of regulation.
This webinar will review the requirements of MAR, consider approaches to compliance, and provide expert guidance on how to detect and analyse potentially abusive market transactions. It will also touch on efficient and effective technology solutions.
Listen to the webinar to find out more about:
- Typical scenarios that cause firms to be penalised
- Risks and challenges of compliance with MAR
- Emerging risks of Markets in Crypto-Assets (MICA) Regulation
- Approaches to compliance with MAR
- Guidance on how to detect and analyse abusive market transactions
- Technologies, tools, solutions, services and controls for compliance
- How to select the right trade surveillance framework for your organisation
Speakers:
More about our speakers:
Jamie Bell
Head of Secondary Market Oversight
Financial Conduct Authority (FCA)
Jamie joined the FSA/FCA in October 2007 following 10 years as an industry lobbyist. At the FCA, he has held a number of roles across consumer affairs, supervision, risk and markets, holding senior leadership roles in Retail Banking Supervision, Risk & Compliance Oversight and Market Oversight. He was deputy accountable executive for MiFID II implementation in the UK and accountable executive for the project onshoring the MiFID regime in the UK in preparation for Brexit. He is currently Head of Secondary Market Oversight, responsible for discharging the FCA’s duties under MiFID and MAR in secondary markets.
Katharine Harle
Head of Regulatory & Investigations, UK
Dentons UKIME LLP
Katharine leads Dentons’ UK Regulatory, and Investigations group. She specialises in contentious financial services regulatory work drawing on her experience in-house at the FCA. She has been involved in most of the high profile contentious regulatory issues of the past 15 years including Woodford, Libor, PPI, FX, swaps, Keydata, the FCA’s first Money Laundering Regulations conviction and bank charges. She acts for all types of financial institutions, individuals and regulators and has experience of all different types of FCA processes and proceedings. Katharine previously acted for a broker in challenging an FCA penalty for poor market abuse controls and failure to report suspicious client transactions to the FCA’s regulatory decisions committee where the FCA’s proposed fine was halved. She has experience acting for both clients and the regulator in relation to market abuse and insider dealing investigations and dawn raids. She regularly advises clients on MAR, systems and controls and remedial actions.
Francisco Merlos
RegTech Product Manager
SIX
Francisco Merlos is a Product Manager at SIX specialized in data analytics related to Trade Surveillance, Best Execution and Transaction Cost Analysis (TCA). He has 12 years of experience developing software for algorithmic trading, electronic trading, and Big Data analytics. Francisco graduated in Computer Science from the Polytechnical University of Madrid and has a MS in Information Technology from the University of Stuttgart, Germany and MS in Artificial Intelligence.
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