MAR 1.1 Application and interpretation
Application and purpose
This chapter provides guidance on the Market Abuse Regulation5. It is therefore likely to be helpful to persons who:
545- (1)
want to avoid engaging in market abuse5; or
- (2)
want to determine whether they are required by article 16 of the Market Abuse Regulation5 to report a transaction 5or order to the FCA as a suspicious one.
The FCA's statement of policy about the imposition, duration5 and amount of penalties in cases of market abuse (required by section 124 of the Act) is in DEPP 6 3 .
3Using MAR 1
- (1)
Assistance in the interpretation of MAR 1 (and the remainder of the Handbook) is given in the Readers' Guide to the Handbook and in GEN 2 (Interpreting the Handbook). This includes an explanation of the status of the types of provision used (see in particular chapter six of the Readers' Guide to the Handbook).
- (2)
[deleted]5
This chapter5 does not exhaustively describe all types of behaviour5 that may indicate5 market abuse. In particular, the descriptions of behaviour5 should be read in the light of:
55- (1)
the elements specified by the Market Abuse Regulation5 as making up the relevant type of market abuse; and
- (2)
any relevant descriptions of behaviour specified by the Market Abuse Regulation5 which do not amount to market abuse; and5
- (3)
any provisions in the MAR Level 2 Regulations6, and any applicable guidelines made by ESMA in force before IP completion day76 .
5
This chapter5 does not exhaustively describe all the factors to be taken into account in determining whether behaviour5 amounts to market abuse. The5 absence of a factor mentioned does not, of itself, amount to a contrary indication.
5References are made in this chapter to provisions in the Market Abuse Regulation and provisions in the MAR Level 2 Regulations6 to assist readers. The fact that other provisions of the Market Abuse Regulation and other provisions in the MAR Level 2 Regulations6 have not been referred to does not mean that they would not also assist readers or that they have a different status.