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MAR, Mifid, Uncategorized

FCA warns of increased MAR oversight

The start of MiFID II on 3rd January increases the scope of the Market Abuse Regulation, which itself started on 3rd July 2016 (see here). Financial instruments executed on Organised Trading Facilities (OTF) as well as emissions allowances will be in scope. As a result the requirements of an Emissions Allowance Market Participant (EAMP) increase on this dates, although there has not been much discussion in this area.

Last week Julia Hoggett, Director of Market Oversight at the FCA made this speech reminding the market of the expanded scope of MAR. The speech discusses the low number of Suspicious Transactions and Order Reports (STOR) receive for both fixed income and commodities activity, asset classes into which MAR expanded the market abuse regime. We can therefore expect increased oversight in the coming months.  This article on the Euromoney web site by Mark Baker reports on the speech.

About avivhandler

Aviv is the Managing Director of ETR Advisory, a niche consultancy focused on energy and commodity regulation. He has more than 20 years of experience in energy and commodity trading, credit, risk and financial technology. He has delivered a series of trading, credit and risk solutions to a wide variety of oil majors, power and gas companies and investment banks. Prior to founding ETR, he was Partner at SunGard Global Services, where he built a Centre of Excellence in European Energy 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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