Related provisions for MAR 1.2.1

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MAR 1.10.1GRP
(1) Behaviour which conforms with articles 3 to 6 of the Buy-back and Stabilisation Regulation (see MAR 1 Annex 1) will not amount to market abuse.(2) See MAR 2 in relation to stabilisation.(3) Buy-back programmes which are not within the scope of the Buy-back and Stabilisation Regulation are not, in themselves, market abuse.
MAR 1.10.2GRP
There are no rules which permit or require a person to behave in a way which amounts to market abuse.Some rules contain a provision to the effect that behaviour conforming with that rule does not amount to market abuse:(1) COB 2.4.4 R (1) (Chinese walls) (see COB 2.4.4 R (4)); and(2) those parts of the Part 6 rules which relate to the timing, dissemination or availability, content and standard of care applicable to a disclosure, announcement, communication or release of information
MAR 1.10.3GRP
There are no rules in the Takeover Code or the SARs, which permit or require a person to behave in a way which amounts to market abuse.
MAR 1.10.4CRP
Behaviour conforming with any of the rules of the Takeover Codeor SARsabout the timing, dissemination or availability, content and standard of care applicable to a disclosure, announcement, communication or release of information, does not, of itself, amount to market abuse, if:(1) the rule is one of those specified in the table in MAR 1.10.5 C;(2) the behaviour is expressly required or expressly permitted by the rule in question (the notes for the time being associated with the
MAR 1.10.5CRP

Table: Provisions of the Takeover Code or SARs conformity with which will not, of itself, amount to market abuse (This table belongs to MAR 1.10.4C):

Takeover Code provisions:

Disclosure of information which is not generally available

1(a)

2.1 plus notes, 2.5, 2.6, 2.9 plus notes

8

19.7

20.1, 20.2, 20.3

28.4

37.3(b) and 37.4(a)

Standards of care

2.8 first sentence and note 4

19.1, 19.5 second sentence and note 2, 19.8

23 plus notes

28.1

Timing of announcements, documentation and dealings

2.2, 2.4(b)

5.4

6.2(b)

7.1

11.1 note 6 only

17.1

21.2

30

31.6(c), 31.9

33 (in so far as it refers 31.6(c) and 31.9 only)

38.5

Content of announcements

2.4 (a) and (b)

19.3

SAR provisions:

Timing of disclosure

3

4.1(a) and (e), 4.3, 4.4

Content of announcements

4.2

MAR 1.10.6CRP
Behaviour conforming with Rule 4.2 of the Takeover Code (in relation to restrictions on dealings by offerors and concert parties) does not, of itself, amount to market abuse, if:(1) the behaviour is expressly required or expressly permitted by that rule (the notes for the time being associated with the rules identified in the Takeover Code are treated as part of the rule for these purposes); and(2) it conforms to any General Principle set out at Section B of the Takeover Code
MAR 1.1.1GRP
2This chapter (which contains the Code of Market Conduct) applies to all persons seeking guidance on the market abuse regime.2
MAR 1.1.2GRP
This chapter provides assistance in determining whether or not behaviour amounts to market abuse. It also forms part of the UK's implementation of the Market Abuse Directive (including its EU implementing legislation, that is Directive 2003/124/EC, Directive 2003/125/EC, Regulation 2273/2003 and Directive 2004/72/EC). It is therefore likely to be helpful to persons who:(1) want to avoid engaging in market abuseor to avoid requiring or encouraging another to do so; or(2) want to
MAR 1.1.6GRP
The Code does not exhaustively describe all types of behaviour or may not amount to market abuse. In particular, the descriptions of behaviour which, in the opinion of the FSA, amount to market abuse should be read in the light of: (1) the elements specified by the Act as making up the relevant type of market abuse; and(2) any relevant descriptions of behaviour which , in
MAR 1.1.7GRP
Likewise, the Code does not exhaustively describe all the factors to be taken into account in determining whether behaviour amounts to market abuse. If factors are described, they are not to be taken as conclusive indications, unless specified as such, and the absence of a factor mentioned does not, of itself, amount to a contrary indication.
MAR 1.1.8GRP
For the avoidance of doubt, it should be noted that any reference in the Code to "profit" refers also to potential profits, avoidance of loss or potential avoidance of loss.
MAR 1.2.3GRP
Section 118(1)(a) of the Act does not require the person engaging in the behaviour in question to have intended to commit market abuse.
MAR 1.2.23GRP
The following are examples of behaviour that might fall within the scope of section 123(1)(b) :(1) a director of a company, while in possession of inside information, instructs an employee of that company to deal in qualifying investments or related investments in respect of which the information is inside information;(2) a person recommends or advises a friend to engage in behaviour which, if he himself engaged
LR 7.2.2GRP
Principle 2 is intended to ensure that listed companies have adequate procedures, systems and controls to enable them to comply with their obligations under the listing rules and disclosure rules and transparency rules. In particular, the FSA considers that listed companies should place particular emphasis on ensuring that they have adequate procedures, systems and controls in relation to:(1) identifying whether any obligations arise under LR 10 (Significant transactions) and
LR 7.2.3GRP
Timely and accurate disclosure of information to the market is a key obligation of listed companies. For the purposes of Principle 2, a listed companywith a primary listing of equity securities should have adequate systems and controls to be able to:(1) ensure that it can properly identify information which requires disclosure under the listing rules or disclosure rules and transparency rules in a timely manner; and(2) ensure that any information identified under paragraph (1)
LR 9.2.5GRP
A listed company, whose securities are admitted to trading on a regulated market in the United Kingdom, should consider its obligations under DTR 2 (Disclosure and control of inside information by issuers).1
LR 9.2.6RRP
A listed company that is not already required to comply with DTR 2 (Disclosure and control of inside information by issuers) must comply with DTR 2 as if it were an issuer for the purposes of the disclosure rules and transparency rules.
REC 3.21.1RRP
Where a UK recognised body has evidence tending to suggest that any person has:(1) been carrying on any regulated activity in the United Kingdom in contravention of the general prohibition; or(2) been engaged in market abuse; or(3) committed a criminal offence under the Act or subordinate legislation made under the Act; or(4) committed a criminal offence under Part V of the Criminal Justice Act 1993 (Insider dealing); or(5) committed a criminal offence under the Money Laundering
DTR 2.1.1GRP
1An issuer should be aware that matters that fall within the scope of this chapter may also fall within the scope of:(1) the market abuse regime set out in section 118 of the Act;(2) section 397 of the Act relating to misleading statements and practices;(3) Part V of the Criminal Justice Act 1993 relating to insider dealing; and(4) the Takeover Code.
MAR 5.5.1RRP
The purpose of this section is to help prospective and actual ATS operators find their way around the Handbook by setting out which parts of it apply to them when operating an ATS.1
LR 1.4.1RRP
(1) If it appears to the FSA that there is, or there may be, a breach of the listing rules by an issuer with a primary listing, the FSA may in writing require the issuer to appoint a sponsor to advise the issuer on the application of the listing rules.(2) If required to do so under paragraph (1), an issuer must, as soon as practicable, appoint a sponsor to advise it on the application of the listing rules.Note: LR 8.2 sets out the various circumstances in which an issuer must
LR 9.6.6RRP
Where the securities are subject to an underwriting agreement a listed company may, at its discretion and subject to DTR 2 (Disclosure and control of inside information by issuers), delay notifying a RIS as required by LR 9.6.4R (6) for up to two business days until the obligation by the underwriter to take or procure others to take securities is finally determined or lapses. In the case of an issue or offer of securities which is not underwritten, notification of the result must
SUP 15.2.2GRP
This chapter sets out:(1) guidance on the type of event or change in condition which a firm should consider notifying in accordance with Principle 11; the purpose of this guidance is to set out examples and not to give comprehensive advice to firms on what they should notify in order to be in compliance with Principle 11;(2) rules on events and changes in condition that a firm must notify; these are the types of event that the FSA must be informed about, usually as soon as possible,
REC 2.5.1UKRP

Schedule to the Recognition Requirements Regulations, paragraph 3

(1)

The [UK RIE] must ensure that the systems and controls used in the performance of its [relevant functions] are adequate, and appropriate for the scale and nature of its business.

(2)

Sub-paragraph (1) applies in particular to systems and controls concerning -

(a)

the transmission of information;

(b)

the assessment and management of risks to the performance of the [UK RIE'srelevant functions];

(c)

the effecting and monitoring of transactions on the [UK RIE];

(d)

the operation of the arrangements mentioned in paragraph 4(2)(d); and

(e)

(where relevant) the safeguarding and administration of assets belonging to users of the [UK RIE's] facilities.1

SUP 15.10.4GRP
(1) Notification of suspicious transactions to the FSA requires sufficient indications (which may not be apparent until after the transaction has taken place) that the transaction might constitute market abuse. In particular a firm will need to be able to explain the basis for its suspicion when notifying the FSA (see SUP 15.10 R). Certain transactions by themselves may seem completely devoid of anything suspicious, but might deliver such indications of possible market abuse,
REC 6.6.2GRP
The following events are examples of events likely to affect an assessment of whether an overseas recognised body is continuing to satisfy the recognition requirements, or to have an effect on competition:(1) significant changes to any relevant law or regulation in its home territory, including laws or regulations:(a) governing exchanges or clearing houses;(b) designed to prevent insider dealing, market manipulation or other forms of market abuse or misconduct;(c) designed to
LR 8.2.1RRP
A company with, or applying for, a primary listing of its equity securities must appoint a sponsor on each occasion that it:(1) makes an application for admission of equity securities which:(a) requires the production of a prospectus; or(b) is accompanied by a certificate of approval from another competent authority; or(c) is accompanied by a summary document as required by PR 1.2.3R (8); or(2) is required to producea class 1 circular; or(3) is producinga circular that proposes
MAR 1.3.7CRP
For market makers and persons that may lawfully deal in qualifying investments or related investments on their own account, pursuing their legitimate business of such dealing (including entering into an agreement for the underwriting of an issue of financial instruments) will not in itself amount to market abuse (insider dealing). [Note: Recital 18 Market Abuse Directive]