This client memorandum looks at some of the key aspects of the new EU Market Abuse Regulation, which will apply to U.S. issuers with securities admitted to trading on an EU trading venue from July 3, 2016.
This memorandum considers:
- the expanded scope of the new regime, which will apply to previously unregulated markets;
- the revised issuer obligations on information disclosure, insider lists and dealings by senior managers in respect of securities traded on EU trading venues;
- the prohibitions on insider dealing, unlawful disclosure of inside information and market manipulation; and
- issues connected with a de-listing from an EU trading venue in order to remove a U.S. issuer from the scope of MAR.