In recent years, the Financial Conduct Authority (FCA) has increased the number of investigations relating to incidents of market abuse.
This involves investigations into allegations of insider dealing, market manipulation, price fixing, money laundering, misleading statements and regulatory breaches.
The Market Abuse Regulation (EU) No 596/2014 (MAR) came into force in July 2016. The new regime continues to remain the focus for the FCA in the detection, prevention and prosecution of market abuse.
Market abuse can take many forms, such as insider trading when a person intends to trade on the basis of inside information they have acquired. Traders may also manipulate transactions by giving false or misleading statements to raise prices to an artificial level. Market abuse can also be in the form of an improper disclosure, where an insider improperly reveals inside information to another person, or dissemination or distortion of market information where false or misleading information is given with the intention to mislead or distort the market.
To judge whether market abuse had been committed, the meaning of “inside information” as defined in the Financial Services and Markets Act 2000 (FSMA) must be considered.
The provisions set out in MAR make insider dealing and market manipulation civil offences and gives the FCA powers and responsibilities for preventing and detecting market abuse.
Criminal insider dealing is an offence under Part V of the Criminal Justice Act 1993, and criminal market manipulation is an offence under sections 89-91 of the Financial Services Act 2012.
When you or your business are facing allegations of market abuse, both your reputation and livelihood are at stake. Early advice is critical to your defence, and an expert financial crimes lawyer can guide you through this increasingly complex area. Janes Solicitors have the expertise and experience of Financial Conduct Authority investigations and of how the Financial Conduct Authority works in terms of evidence requirements for bringing cases and the complexities of the law in this niche field.
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Janes Solicitors take a proactive approach with each client to offer maximum support and a commitment to achieving the best possible outcome for you, and ensuring your interests are paramount.
Our lawyers offer a personal case tailored service to suit the differing needs of our clients. Our skilled and focused approach, as well as our technical expertise on these demanding cases have helped to mark us out as leaders in our field. Janes Solicitors will guide and advise you every step of the way.
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Janes Solicitors provides bespoke specialist advice on all areas of serious and complex fraud, regulatory, taxation and serious financial crime matters. With extensive experience in all areas of fraud and financial crime and a well-earned reputation as leaders in our field, our expert defence team take a proactive and pragmatic approach to legal advice and case strategy. We are committed to your successful outcome.
Our lawyers offer a personal case tailored service to suit the differing specific of our clients. Our skilled and focused approach and our technical expertise on these demanding cases have helped to mark us out as leaders in our field. Janes Solicitors will guide and advise you every step of the way.
If you or your business have concerns, are under suspicion or investigation or have been arrested or prosecuted for any serious fraud or financial crime offence, contact us today on 020 7930 5100. Alternatively you can contact us via our online contact form, and one of our team will be in touch as soon as possible.