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MAR 1.1 Application and interpretation

Application and purpose

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MAR 1.1.1G

2This chapter is relevant5 to all persons seeking guidance on the market abuse regime.

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MAR 1.1.1AG

[deleted]5

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MAR 1.1.2G

This chapter provides guidance on the Market Abuse Regulation5. It is therefore likely to be helpful to persons who:

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  1. (1)

    want to avoid engaging in market abuse5; or

  2. (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.

MAR 1.1.3G

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 63.

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Using MAR 1

MAR 1.1.4G
  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. (2)

    [deleted]5

MAR 1.1.5G
4

[deleted]5

MAR 1.1.6G

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:

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  1. (1)

    the elements specified by the Market Abuse Regulation5 as making up the relevant type of market abuse; and

  2. (2)

    any relevant descriptions of behaviour specified by the Market Abuse Regulation5 which do not amount to market abuse; and5

  3. (3)

    any provisions specified in any Commission legislative text made pursuant to the Market Abuse Regulation, and any applicable guidelines made by ESMA.5

MAR 1.1.7G

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.

MAR 1.1.8G

For the avoidance of doubt, it should be noted that any reference in this chapter5 to "profit" refers also to potential profits, avoidance of loss or potential avoidance of loss.

MAR 1.1.9G

5References are made in this chapter to provisions in the Market Abuse Regulation and other EU legislation made pursuant to the Market Abuse Regulation to assist readers. The fact that other provisions of the Market Abuse Regulation and other EU legislation made pursuant to the Market Abuse Regulation have not been referred to does not mean that they would not also assist readers or that they have a different status.