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FCA issues new MAR guide on enforcement, penalties and decisions

The UK’s FCA (Financial Conduct Authority) last Thursday night  issued a new version of the Decision Procedures and Penalties manual (DEPP) and enforcement guide, in preparation for MAR (Market Abuse Regulation), which started to apply from last Sunday 3rd July. The press release can be found here and the document here.

The updates set the scene for the application of MAR, which widely applies to those in the energy and commodities markets. This includes a requirement for “effective monitoring” processes and technology, that must be complied with by the majority of energy and commodity market participants. While most in the market have attempted to get policies and systems up to scratch for the deadline, it will also necessary for many to continue the effort to improve monitoring, on a continuous basis.

About avivhandler

Aviv is the Managing Director of ETR Advisory, a niche consultancy focused on the regulation of the commodity, energy and financial markets. He has more than 23 years of experience in the financial, energy and commodity markets, covering regulatory compliance, credit, risk and financial technology. Prior to founding ETR, he was Partner at SunGard Global Services, where he built a Centre of Excellence in European Energy and Commodity Regulation. Before that, he founded Coherence, a consulting firm specializing in credit risk in commodity and energy trading as well as software product management. The credit practice ultimately became part of Sirius Solutions, where he was the Managing Director of Europe. He has also held management roles at KWI and Iris Financial, among other organizations. Mr. Handler holds a degree in computer science from Imperial College, University of London.


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