MyComplianceOffice Blog

On September 23rd, the European Securities and Markets Authority (ESMA) published a set of outcomes and recommendations on the Market Abuse Regulation. The report has the objective to review the functionalities of MAR since its implementation in 2016 and draft suggestions to improve the regulation. The report is based on a 2019 consultation and covers buy-back programmes, the delayed disclosure of inside information, the usefulness of insider lists, managers’ transactions, the retention period of personal data among other topics.

With the increased challenges for financial Control Rooms, global regulators continue to pressure firms concerning the flow of confidential information. To manage the flow on confidential information and implement an effective risk control, firms are expected to continue working on the modernization of regulatory, legal and compliance risk management programs. These modern programmes in addition to effective technology can ensure that material non-public information (MNPI) is only available to staff as and when required and does not leak to other parties.

What makes a high impact compliance program? Given the state of many corporate compliance programs, it’s a question we get a lot. Here at MCO, we look at more than just the checklist of activities or the features or even the hotline to report potential violations. Fundamentally, business has shifted from simple checklists to how behavior is being impacted.

This Monday saw two men, Martyn Dodgson and Andrew Hind found guilty of insider trading after a four month trial in what is Britain’s biggest ever insider trading case.