Following the implementation of the Market Abuse Regulation in July, this alert discusses its impact on AIM listed companies, changes to the AIM rules and what actions AIM listed companies need to consider.
What caused the changes to be made?
3 July 2016 saw the Europe-wide implementation of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (the Market Abuse Regulation or MAR). MAR was implemented in order to harmonise the various existing regimes on market abuse across the EU, establishing a common regulatory framework on insider dealing, the unlawful disclosure of inside information and market manipulation. Measures were also introduced to prevent market abuse, to help to ensure the integrity of financial markets and to enhance investor protection and confidence in those markets.