FCA’s latest edition of Market Watch looks at market conduct and discipline in the context of coronavirus. It stresses particularly the importance of complying with the standards of MAR. Given the likely need for many issuers to seek additional capital, FCA notes the importance of making sure the right controls are in place around market abuse, conduct and managing conflicts, particularly as many people are working remotely and using alternative methods. It recommends focus on:
- ensuring inside information is properly identified and handled;
- ensuring proper disclosure by issuers of inside information;
- maintaining robust STORs and market surveillance;
- meeting SSR reqirements; and
- identifying conflicts that may arise around capital raising.
FCA will be monitoring primary market and associated secondary market activities and will use its full range of tools to identify and address any behaviours that may impact the integrity and orderly functioning of the market.