2000 c. 8.

S.I.2001/996.

1993 c. 36.

S.I.1994/188, as amended by S.I.2001/3649.

O.J. L 96, 12.4.2003, p.16; applied to the EEA by Joint Committee Decision 38/2004 of 23 April 2004 (not yet published in the Official Journal of the European Communities).

S.I.2001/995.

Reg. 1 in force at 1.7.2005, see reg. 1(2)

Reg. 2 in force at 17.3.2005, see reg. 1(3)(a)

Reg. 3 in force at 17.3.2005, see reg. 1(3)(a)

Reg. 4 in force at 1.7.2005, see reg. 1(2)

Reg. 5 in force at 1.7.2005, see reg. 1(2)

Reg. 6 in force at 1.7.2005, see reg. 1(2)

Reg. 7 in force at 1.7.2005, see reg. 1(2)

Reg. 8 in force at 17.3.2005, see reg. 1(3)(a)

Reg. 9 in force at 1.7.2005, see reg. 1(2)

Reg. 10 in force at 1.7.2005, see reg. 1(2)

Reg. 11 in force at 1.7.2005, see reg. 1(2)

http://www.legislation.gov.uk/uksi/2005/381/body/2005-03-17The Financial Services and Markets Act 2000 (Market Abuse) Regulations 2005DisclosureFINANCIAL SERVICES AND MARKETSStatute Law Database2024-05-20Expert Participation2005-03-17These Regulations implement, in part, Directive 2003/6/EC of the European Parliament and of the Council of 28 January 2003 on insider dealing and market manipulation (“the Market Abuse Directive”) and the following measures which were made under Article 17 of the Market Abuse Directive:Commission Regulation (EC) No 2273/2003 of 22 December 2003 implementing Directive 2003/6/EC of the European Parliament and of the Council as regards exemptions for buy-back programmes and stabilisation of financial instruments;Commission Directive 2003/124/EC of 22 December 2003 implementing Directive 2003/6 of the European Parliament and of the Council as regards the definition and public disclosure of inside information and the definition of market manipulation; andCommission Directive 2004/72/EC of 29 April 2004 implementing Directive 2003/6 of the European Parliament and of the Council as regards accepted market practices, the definition of inside information in relation to derivatives on commodities, the drawing up of lists of insiders, the notification of managers' transactions and the notification of suspicious transactions.1Citation and commencement1

These Regulations may be cited as the Financial Services and Markets Act 2000 (Market Abuse) Regulations 2005.

2

Except as provided for in paragraph (3), these Regulations shall come into force on 1st July 2005.

3

The following provisions shall come into force on 17th March 2005—

a

regulations 2, 3 and 8,

b

paragraphs 2, 3, 6 and 11 of Schedule 1.

2Interpretation

In these Regulations—

“the 2000 Act” means the Financial Services and Markets Act 2000;

“the 2001 Order” means the Financial Services and Markets Act 2000 (Prescribed Markets and Qualifying Investments) Order 2001.

3Amendment of Schedule 1 to the Criminal Justice Act 1993

In Schedule 1 to the Criminal Justice Act 1993, at the end of paragraph 5(1) insert—

or with the relevant provisions of Commission Regulation (EC) No 2273/2003 of 22 December 2003 implementing Directive 2003/6/EC of the European Parliament and of the Council as regards exemptions for buy-back programmes and stabilisation of financial instruments

.

4Amendment of Part 6 of the 2000 Act

Schedule 1 (which contains amendments to Part 6 of the 2000 Act (official listing)) has effect.

5Amendment of Part 8 of the 2000 Act

Schedule 2 (which contains amendments to Part 8 of the 2000 Act (market abuse)) has effect.

6Amendment of section 150 of the 2000 Act

In subsection (4)(a) of section 150 (actions for damages) of the 2000 Act, for “listing rules” substitute “Part 6 rules”.

7Amendment of section 395 of the 2000 Act

In section 395(13) of the 2000 Act after paragraph (b) insert—

ba

96C;

.

8Amendment of section 397 of the 2000 Act1

Section 397 (misleading statements and practices) of the 2000 Act is amended as follows.

2

In subsection (4), for “price stabilising rules or control of information rules” substitute

a

price stabilising rules;

b

control of information rules; or

c

the relevant provisions of Commission Regulation (EC) No 2273/2003 of 22 December 2003 implementing Directive 2003/6/EC of the European Parliament and of the Council as regards exemptions for buy-back programmes and stabilisation of financial instruments.

.

3

In subsection (5), the word “or” after paragraph (b) is repealed and after paragraph (c) insert—

; or

a

that he acted or engaged in the conduct in conformity with the relevant provisions of Commission Regulation (EC) No 2273/2003 of 22 December 2003 implementing Directive 2003/6/EC of the European Parliament and of the Council as regards exemptions for buy-back programmes and stabilisation of financial instruments.

.

9Revocation of the Traded Securities (Disclosure) Regulations 1994

The Traded Securities (Disclosure) Regulations 1994 are revoked.

10Amendment of the 2001 Order1

In the 2001 Order, the following definition is inserted before the definition of a “UK recognised investment exchange” in article 3 —

“regulated market” has the meaning given in Article 1(13) of the investment services directive;

.

2

In the 2001 Order, for articles 4, 4A and 5 substitute—

4Prescribed Markets1

There are prescribed, as markets to which subsections (2), (3), (5), (6) and (7) of section 118 apply—

a

all markets which are established under the rules of a UK recognised investment exchange,

b

the market known as OFEX,

c

all other markets which are regulated markets.

2

There are prescribed, as markets to which subsections (4) and (8) of section 118 apply—

a

all markets which are established under the rules of a UK recognised investment exchange;

b

the market known as OFEX.

5Qualifying Investments

There are prescribed, as qualifying investments in relation to the markets prescribed by article 4, all financial instruments within the meaning given in Article 1(3) of Directive 2003/6/EC of the European Parliament and the Council of 28 January 2003 on insider dealing and market manipulation (market abuse).

.

11Amendment of the Financial Services and Markets Act 2000 (Recognition Requirements for Investment Exchanges and Clearing Houses) Regulations 2001

In the Schedule to the Financial Services and Markets Act 2000 (Recognition Requirements for Investment Exchanges and Clearing Houses) Regulations 2001, paragraph 5 is repealed.

Nick AingerJim MurphyTwo of the Lords Commissionersof Her Majesty’s Treasury23rd February 2005
This XML file does not appear to have any style information associated with it. The document tree is shown below.
<akomaNtoso xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xsi:schemaLocation="http://docs.oasis-open.org/legaldocml/ns/akn/3.0 http://docs.oasis-open.org/legaldocml/akn-core/v1.0/cos01/part2-specs/schemas/akomantoso30.xsd">
<portion includedIn="http://www.legislation.gov.uk/id/uksi/2005/381">
<meta>
<identification source="#source">
<FRBRWork>
<FRBRthis value="http://www.legislation.gov.uk/id/uksi/2005/381"/>
<FRBRuri value="http://www.legislation.gov.uk/id/uksi/2005/381"/>
<FRBRdate date="2005-02-23" name="made"/>
<FRBRauthor href="http://www.legislation.gov.uk/id/government/uk"/>
<FRBRcountry value="GB-UKM"/>
<FRBRsubtype value="regulation"/>
<FRBRnumber value="381"/>
<FRBRname value="S.I. 2005/381"/>
<FRBRprescriptive value="true"/>
</FRBRWork>
<FRBRExpression>
<FRBRthis value="http://www.legislation.gov.uk/uksi/2005/381/body/2005-03-17"/>
<FRBRuri value="http://www.legislation.gov.uk/uksi/2005/381/2005-03-17"/>
<FRBRdate date="2005-03-17" name="validFrom"/>
<FRBRauthor href="#source"/>
<FRBRlanguage language="eng"/>
</FRBRExpression>
<FRBRManifestation>
<FRBRthis value="http://www.legislation.gov.uk/uksi/2005/381/body/2005-03-17/data.akn"/>
<FRBRuri value="http://www.legislation.gov.uk/uksi/2005/381/2005-03-17/data.akn"/>
<FRBRdate date="2024-10-31Z" name="transform"/>
<FRBRauthor href="http://www.legislation.gov.uk"/>
<FRBRformat value="application/akn+xml"/>
</FRBRManifestation>
</identification>
<classification source="#source">
<keyword value="disclosure" showAs="Disclosure" dictionary="http://www.legislation.gov.uk"/>
<keyword value="financial services and markets" showAs="FINANCIAL SERVICES AND MARKETS" dictionary="http://www.legislation.gov.uk"/>
</classification>
<lifecycle source="#source">
<eventRef date="2005-02-23" type="generation" eId="made-date" source="#source"/>
<eventRef date="2005-02-24" eId="laid-date-1" source="#source"/>
<eventRef date="2005-03-17" eId="effective-date-1" source="#source"/>
<eventRef date="2005-07-01" eId="effective-date-2" source="#source"/>
<eventRef date="2023-08-29" eId="effective-date-3" source="#source"/>
</lifecycle>
<analysis source="#source">
<restrictions source="#source">
<restriction refersTo="#e+w+s+ni" type="jurisdiction"/>
<restriction href="#body" refersTo="#e+w+s+ni" type="jurisdiction"/>
<restriction href="#regulation-1" refersTo="#e+w+s+ni" type="jurisdiction"/>
<restriction href="#regulation-2" refersTo="#e+w+s+ni" type="jurisdiction"/>
<restriction href="#regulation-3" refersTo="#e+w+s+ni" type="jurisdiction"/>
<restriction href="#regulation-4" refersTo="#e+w+s+ni" type="jurisdiction"/>
<restriction href="#regulation-5" refersTo="#e+w+s+ni" type="jurisdiction"/>
<restriction href="#regulation-6" refersTo="#e+w+s+ni" type="jurisdiction"/>
<restriction href="#regulation-7" refersTo="#e+w+s+ni" type="jurisdiction"/>
<restriction href="#regulation-8" refersTo="#e+w+s+ni" type="jurisdiction"/>
<restriction href="#regulation-9" refersTo="#e+w+s+ni" type="jurisdiction"/>
<restriction href="#regulation-10" refersTo="#e+w+s+ni" type="jurisdiction"/>
<restriction href="#regulation-11" refersTo="#e+w+s+ni" type="jurisdiction"/>
<restriction href="#d4e465" refersTo="#e+w+s+ni" type="jurisdiction"/>
</restrictions>
</analysis>
<temporalData source="#source">
<temporalGroup eId="period1">
<timeInterval start="#effective-date-1" refersTo="#period-concept1"/>
</temporalGroup>
<temporalGroup eId="period2">
<timeInterval start="#effective-date-1" end="#effective-date-2" refersTo="#period-concept2"/>
</temporalGroup>
<temporalGroup eId="period3">
<timeInterval start="#effective-date-1" end="#effective-date-3" refersTo="#period-concept3"/>
</temporalGroup>
<temporalGroup eId="period4">
<timeInterval start="#effective-date-2" refersTo="#period-concept4"/>
</temporalGroup>
<temporalGroup eId="period5">
<timeInterval start="#effective-date-2" end="#effective-date-3" refersTo="#period-concept5"/>
</temporalGroup>
</temporalData>
<references source="#source">
<TLCOrganization eId="source" href="http://www.legislation.gov.uk/id/publisher/StatuteLawDatabase" showAs="Statute Law Database"/>
<TLCOrganization eId="ref-d4e474" href="/ontology/organization/uk.of Her Majesty’s Treasury" showAs="of Her Majesty’s Treasury"/>
<TLCLocation eId="e+w+s+ni" href="/ontology/jurisdictions/uk.EnglandWalesScotlandNorthernIreland" showAs="England, Wales, Scotland, Northern Ireland"/>
<TLCRole eId="ref-d4e472" href="/ontology/role/uk.Two of the Lords Commissioners" showAs="Two of the Lords Commissioners"/>
<TLCPerson eId="ref-d4e468" href="/ontology/persons/uk.NickAinger" showAs="Nick Ainger"/>
<TLCPerson eId="ref-d4e470" href="/ontology/persons/uk.JimMurphy" showAs="Jim Murphy"/>
<TLCConcept eId="period-concept1" href="/ontology/time/2005.03.17" showAs="since 2005-03-17"/>
<TLCConcept eId="period-concept2" href="/ontology/time/2005.03.17-2005.07.01" showAs="from 2005-03-17 until 2005-07-01"/>
<TLCConcept eId="period-concept3" href="/ontology/time/2005.03.17-2023.08.29" showAs="from 2005-03-17 until 2023-08-29"/>
<TLCConcept eId="period-concept4" href="/ontology/time/2005.07.01" showAs="since 2005-07-01"/>
<TLCConcept eId="period-concept5" href="/ontology/time/2005.07.01-2023.08.29" showAs="from 2005-07-01 until 2023-08-29"/>
</references>
<notes source="#source">
<note class="footnote" eId="f00003">
<p>
<ref href="http://www.legislation.gov.uk/id/ukpga/2000/8">2000 c. 8</ref>
.
</p>
</note>
<note class="footnote" eId="f00004">
<p>
<abbr class="Acronym" title="Statutory Instrument">S.I.</abbr>
<ref href="http://www.legislation.gov.uk/id/uksi/2001/996">2001/996</ref>
.
</p>
</note>
<note class="footnote" eId="f00005">
<p>
<ref href="http://www.legislation.gov.uk/id/ukpga/1993/36">1993 c. 36</ref>
.
</p>
</note>
<note class="footnote" eId="f00006">
<p>
<abbr class="Acronym" title="Statutory Instrument">S.I.</abbr>
<ref href="http://www.legislation.gov.uk/id/uksi/1994/188">1994/188</ref>
, as amended by
<abbr class="Acronym" title="Statutory Instrument">S.I.</abbr>
<ref href="http://www.legislation.gov.uk/id/uksi/2001/3649">2001/3649</ref>
.
</p>
</note>
<note class="footnote" eId="f00007">
<p>
O.J. L 96, 12.4.2003, p.16; applied to the
<abbr class="Acronym" title="European Economic Area">EEA</abbr>
by Joint Committee Decision 38/2004 of 23 April 2004 (not yet published in the Official Journal of the European Communities).
</p>
</note>
<note class="footnote" eId="f00008">
<p>
<abbr class="Acronym" title="Statutory Instrument">S.I.</abbr>
<ref href="http://www.legislation.gov.uk/id/uksi/2001/995">2001/995</ref>
.
</p>
</note>
<note class="commentary I" eId="key-97ade90630d10a79570b515e9c68c72e">
<p>
Reg. 1 in force at 1.7.2005, see
<ref href="http://www.legislation.gov.uk/id/uksi/2005/381/regulation/1/2">reg. 1(2)</ref>
</p>
</note>
<note class="commentary I" eId="key-4b42a9be5b3a1055b0fc3bafbb48efbc">
<p>
Reg. 2 in force at 17.3.2005, see
<ref href="http://www.legislation.gov.uk/id/uksi/2005/381/regulation/1/3/a">reg. 1(3)(a)</ref>
</p>
</note>
<note class="commentary I" eId="key-5f0ae97df43eed6e641bd1ab3b7f4e37">
<p>
Reg. 3 in force at 17.3.2005, see
<ref href="http://www.legislation.gov.uk/id/uksi/2005/381/regulation/1/3/a">reg. 1(3)(a)</ref>
</p>
</note>
<note class="commentary I" eId="key-01c0cc6efeda640442e3bcce32a39caf">
<p>
Reg. 4 in force at 1.7.2005, see
<ref href="http://www.legislation.gov.uk/id/uksi/2005/381/regulation/1/2">reg. 1(2)</ref>
</p>
</note>
<note class="commentary I" eId="key-c01b74e071f1b64fe01d3fb8b5946d20">
<p>
Reg. 5 in force at 1.7.2005, see
<ref href="http://www.legislation.gov.uk/id/uksi/2005/381/regulation/1/2">reg. 1(2)</ref>
</p>
</note>
<note class="commentary I" eId="key-d05ab55eda2fb1668b5a78fd2e1e67dd">
<p>
Reg. 6 in force at 1.7.2005, see
<ref href="http://www.legislation.gov.uk/id/uksi/2005/381/regulation/1/2">reg. 1(2)</ref>
</p>
</note>
<note class="commentary I" eId="key-8b9673b19322bebece89ecb14d4d0dbe">
<p>
Reg. 7 in force at 1.7.2005, see
<ref href="http://www.legislation.gov.uk/id/uksi/2005/381/regulation/1/2">reg. 1(2)</ref>
</p>
</note>
<note class="commentary I" eId="key-c0c68cf0c732c5925481f19adb70f706">
<p>
Reg. 8 in force at 17.3.2005, see
<ref href="http://www.legislation.gov.uk/id/uksi/2005/381/regulation/1/3/a">reg. 1(3)(a)</ref>
</p>
</note>
<note class="commentary I" eId="M_I_390bb6aa-6add-459f-8eb7-eb97f46e3a2f">
<p>
Reg. 9 in force at 1.7.2005, see
<ref href="http://www.legislation.gov.uk/id/uksi/2005/381/regulation/1/2">reg. 1(2)</ref>
</p>
</note>
<note class="commentary I" eId="M_I_317986bb-d88e-46c4-96d5-e193afdc8429">
<p>
Reg. 10 in force at 1.7.2005, see
<ref href="http://www.legislation.gov.uk/id/uksi/2005/381/regulation/1/2">reg. 1(2)</ref>
</p>
</note>
<note class="commentary I" eId="M_I_0176f7b2-544a-48e3-c936-e8f4dffdb4f4">
<p>
Reg. 11 in force at 1.7.2005, see
<ref href="http://www.legislation.gov.uk/id/uksi/2005/381/regulation/1/2">reg. 1(2)</ref>
</p>
</note>
</notes>
<proprietary xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" xmlns:ukm="http://www.legislation.gov.uk/namespaces/metadata" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:dct="http://purl.org/dc/terms/" xmlns:atom="http://www.w3.org/2005/Atom" source="#source">
<ukl:RestrictStartDate value="2005-03-17"/>
<ukl:RestrictEndDate value="2005-07-01"/>
<dc:identifier>http://www.legislation.gov.uk/uksi/2005/381/body/2005-03-17</dc:identifier>
<dc:title>The Financial Services and Markets Act 2000 (Market Abuse) Regulations 2005</dc:title>
<dc:subject>Disclosure</dc:subject>
<dc:subject scheme="SIheading">FINANCIAL SERVICES AND MARKETS</dc:subject>
<dc:publisher>Statute Law Database</dc:publisher>
<dc:modified>2024-05-20</dc:modified>
<dc:contributor>Expert Participation</dc:contributor>
<dct:valid>2005-03-17</dct:valid>
<dc:description>These Regulations implement, in part, Directive 2003/6/EC of the European Parliament and of the Council of 28 January 2003 on insider dealing and market manipulation (“the Market Abuse Directive”) and the following measures which were made under Article 17 of the Market Abuse Directive:Commission Regulation (EC) No 2273/2003 of 22 December 2003 implementing Directive 2003/6/EC of the European Parliament and of the Council as regards exemptions for buy-back programmes and stabilisation of financial instruments;Commission Directive 2003/124/EC of 22 December 2003 implementing Directive 2003/6 of the European Parliament and of the Council as regards the definition and public disclosure of inside information and the definition of market manipulation; andCommission Directive 2004/72/EC of 29 April 2004 implementing Directive 2003/6 of the European Parliament and of the Council as regards accepted market practices, the definition of inside information in relation to derivatives on commodities, the drawing up of lists of insiders, the notification of managers' transactions and the notification of suspicious transactions.</dc:description>
<atom:link rel="self" href="http://www.legislation.gov.uk/uksi/2005/381/body/2005-03-17/data.xml" type="application/xml"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/resources" href="http://www.legislation.gov.uk/uksi/2005/381/resources" title="More Resources"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/memorandum" href="http://www.legislation.gov.uk/uksi/2005/381/memorandum" title="Explanatory Memorandum"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/memorandum/toc" href="http://www.legislation.gov.uk/uksi/2005/381/memorandum/contents" title="Explanatory Memorandum Table of Contents"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/act" href="http://www.legislation.gov.uk/uksi/2005/381/2005-03-17" title="whole act"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/introduction" href="http://www.legislation.gov.uk/uksi/2005/381/introduction/2005-03-17" title="introduction"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/signature" href="http://www.legislation.gov.uk/uksi/2005/381/signature/2005-03-17" title="signature"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/note" href="http://www.legislation.gov.uk/uksi/2005/381/note/2005-03-17" title="note"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/body" href="http://www.legislation.gov.uk/uksi/2005/381/body/2005-03-17" title="body"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/schedules" href="http://www.legislation.gov.uk/uksi/2005/381/schedules/2005-03-17" title="schedules"/>
<atom:link rel="alternate" type="application/rdf+xml" href="http://www.legislation.gov.uk/uksi/2005/381/body/2005-03-17/data.rdf" title="RDF/XML"/>
<atom:link rel="alternate" type="application/akn+xml" href="http://www.legislation.gov.uk/uksi/2005/381/body/2005-03-17/data.akn" title="AKN"/>
<atom:link rel="alternate" type="application/xhtml+xml" href="http://www.legislation.gov.uk/uksi/2005/381/body/2005-03-17/data.xht" title="HTML snippet"/>
<atom:link rel="alternate" type="text/html" href="http://www.legislation.gov.uk/uksi/2005/381/body/2005-03-17/data.htm" title="Website (XHTML) Default View"/>
<atom:link rel="alternate" type="text/csv" href="http://www.legislation.gov.uk/uksi/2005/381/body/2005-03-17/data.csv" title="CSV"/>
<atom:link rel="alternate" type="application/pdf" href="http://www.legislation.gov.uk/uksi/2005/381/body/2005-03-17/data.pdf" title="PDF"/>
<atom:link rel="alternate" type="application/akn+xhtml" href="http://www.legislation.gov.uk/uksi/2005/381/body/2005-03-17/data.html" title="HTML5 snippet"/>
<atom:link rel="http://purl.org/dc/terms/tableOfContents" hreflang="en" href="http://www.legislation.gov.uk/uksi/2005/381/contents/2005-03-17" title="Table of Contents"/>
<atom:link rel="http://purl.org/dc/terms/isReplacedBy" href="http://www.legislation.gov.uk/uksi/2005/381/body/2023-08-29" title="2023-08-29"/>
<atom:link rel="http://purl.org/dc/terms/hasVersion" href="http://www.legislation.gov.uk/uksi/2005/381/body/made" title="made"/>
<atom:link rel="http://purl.org/dc/terms/hasVersion" href="http://www.legislation.gov.uk/uksi/2005/381/body" title="current"/>
<atom:link rel="up" href="http://www.legislation.gov.uk/uksi/2005/381/2005-03-17" title="Entire legislation"/>
<atom:link rel="prev" href="http://www.legislation.gov.uk/uksi/2005/381/introduction/2005-03-17" title="Introduction; Introduction"/>
<atom:link rel="prevInForce" href="http://www.legislation.gov.uk/uksi/2005/381/introduction/2005-03-17" title="Introduction; Introduction"/>
<atom:link rel="next" href="http://www.legislation.gov.uk/uksi/2005/381/schedule/1/2005-03-17" title="Schedule; Schedule 1"/>
<atom:link rel="nextInForce" href="http://www.legislation.gov.uk/uksi/2005/381/schedule/1/2005-03-17" title="Schedule; Schedule 1"/>
<ukm:SecondaryMetadata>
<ukm:DocumentClassification>
<ukm:DocumentCategory Value="secondary"/>
<ukm:DocumentMainType Value="UnitedKingdomStatutoryInstrument"/>
<ukm:DocumentStatus Value="revised"/>
<ukm:DocumentMinorType Value="regulation"/>
</ukm:DocumentClassification>
<ukm:Year Value="2005"/>
<ukm:Number Value="381"/>
<ukm:Made Date="2005-02-23"/>
<ukm:Laid Date="2005-02-24" Class="UnitedKingdomParliament"/>
<ukm:ISBN Value="0110723066"/>
</ukm:SecondaryMetadata>
<ukm:Notes>
<ukm:Note IdURI="http://www.legislation.gov.uk/id/uksi/2005/381/notes"/>
<ukm:Alternatives>
<ukm:Alternative Date="2008-12-08" URI="http://www.legislation.gov.uk/uksi/2005/381/pdfs/uksiem_20050381_en.pdf" Title="Explanatory Memorandum"/>
</ukm:Alternatives>
</ukm:Notes>
<ukm:Alternatives>
<ukm:Alternative Date="2008-12-08" URI="http://www.legislation.gov.uk/uksi/2005/381/pdfs/uksi_20050381_en.pdf" Title="Print Version"/>
</ukm:Alternatives>
<ukm:Statistics>
<ukm:TotalParagraphs Value="39"/>
<ukm:BodyParagraphs Value="13"/>
<ukm:ScheduleParagraphs Value="26"/>
<ukm:AttachmentParagraphs Value="0"/>
<ukm:TotalImages Value="0"/>
</ukm:Statistics>
</proprietary>
</meta>
<portionBody eId="body" period="#period1">
<hcontainer name="regulation" eId="regulation-1" period="#period5">
<num>
<noteRef href="#key-97ade90630d10a79570b515e9c68c72e" marker="I1" class="commentary I"/>
1
</num>
<heading>Citation and commencement</heading>
<paragraph eId="regulation-1-1">
<num>1</num>
<content>
<p>These Regulations may be cited as the Financial Services and Markets Act 2000 (Market Abuse) Regulations 2005.</p>
</content>
</paragraph>
<paragraph eId="regulation-1-2">
<num>2</num>
<content>
<p>Except as provided for in paragraph (3), these Regulations shall come into force on 1st July 2005.</p>
</content>
</paragraph>
<paragraph eId="regulation-1-3">
<num>3</num>
<intro>
<p>The following provisions shall come into force on 17th March 2005—</p>
</intro>
<subparagraph eId="regulation-1-3-a">
<num>a</num>
<content>
<p>regulations 2, 3 and 8,</p>
</content>
</subparagraph>
<subparagraph eId="regulation-1-3-b">
<num>b</num>
<content>
<p>paragraphs 2, 3, 6 and 11 of Schedule 1.</p>
</content>
</subparagraph>
</paragraph>
</hcontainer>
<hcontainer name="regulation" eId="regulation-2" period="#period3">
<num>
<noteRef href="#key-4b42a9be5b3a1055b0fc3bafbb48efbc" marker="I2" class="commentary I"/>
2
</num>
<heading>Interpretation</heading>
<content>
<p>In these Regulations—</p>
<blockList class="unordered">
<item>
<p>
“the
<abbr title="Financial Services and Markets Act 2000 c. 8" xml:lang="">2000 Act</abbr>
” means the Financial Services and Markets Act 2000
<noteRef href="#f00003" class="footnote" marker="3"/>
;
</p>
</item>
<item>
<p>
“the
<abbr title="Financial Services and Markets Act 2000 (Prescribed Markets and Qualifying Investments) Order 2001 (S.I. 2001/996)" xml:lang="">2001 Order</abbr>
” means the Financial Services and Markets Act 2000 (Prescribed Markets and Qualifying Investments) Order 2001
<noteRef href="#f00004" class="footnote" marker="4"/>
.
</p>
</item>
</blockList>
</content>
</hcontainer>
<hcontainer name="regulation" eId="regulation-3" period="#period3">
<num>
<noteRef href="#key-5f0ae97df43eed6e641bd1ab3b7f4e37" marker="I3" class="commentary I"/>
3
</num>
<heading>Amendment of Schedule 1 to the Criminal Justice Act 1993</heading>
<content>
<p>
In Schedule 1 to the Criminal Justice Act 1993
<noteRef href="#f00005" class="footnote" marker="5"/>
, at the end of paragraph 5(1) insert—
</p>
<p class="BlockAmendment">
<mod>
<quotedStructure class="unknown unknown schedule default" startQuote="" endQuote="">
<p>
or with the relevant provisions of Commission Regulation
<ref href="http://www.legislation.gov.uk/european/regulation/2003/2273">
(
<abbr class="Acronym" title="European Community">EC</abbr>
) No 2273/2003
</ref>
of 22 December 2003 implementing Directive
<ref href="http://www.legislation.gov.uk/european/directive/2003/0006">
2003/6/
<abbr class="Acronym" title="European Community">EC</abbr>
</ref>
of the European Parliament and of the Council as regards exemptions for buy-back programmes and stabilisation of financial instruments
</p>
</quotedStructure>
</mod>
<inline name="AppendText">.</inline>
</p>
</content>
</hcontainer>
<hcontainer name="regulation" eId="regulation-4" period="#period5">
<num>
<noteRef href="#key-01c0cc6efeda640442e3bcce32a39caf" marker="I4" class="commentary I"/>
4
</num>
<heading>
Amendment of Part 6 of the
<abbr title="Financial Services and Markets Act 2000 c. 8" xml:lang="">2000 Act</abbr>
</heading>
<content>
<p>
Schedule 1 (which contains amendments to Part 6 of the
<abbr title="Financial Services and Markets Act 2000 c. 8" xml:lang="">2000 Act</abbr>
(official listing)) has effect.
</p>
</content>
</hcontainer>
<hcontainer name="regulation" eId="regulation-5" period="#period5">
<num>
<noteRef href="#key-c01b74e071f1b64fe01d3fb8b5946d20" marker="I5" class="commentary I"/>
5
</num>
<heading>
Amendment of Part 8 of the
<abbr title="Financial Services and Markets Act 2000 c. 8" xml:lang="">2000 Act</abbr>
</heading>
<content>
<p>
Schedule 2 (which contains amendments to Part 8 of the
<abbr title="Financial Services and Markets Act 2000 c. 8" xml:lang="">2000 Act</abbr>
(market abuse)) has effect.
</p>
</content>
</hcontainer>
<hcontainer name="regulation" eId="regulation-6" period="#period5">
<num>
<noteRef href="#key-d05ab55eda2fb1668b5a78fd2e1e67dd" marker="I6" class="commentary I"/>
6
</num>
<heading>
Amendment of section 150 of the
<abbr title="Financial Services and Markets Act 2000 c. 8" xml:lang="">2000 Act</abbr>
</heading>
<content>
<p>
In subsection (4)(a) of section 150 (actions for damages) of the
<abbr title="Financial Services and Markets Act 2000 c. 8" xml:lang="">2000 Act</abbr>
, for “listing rules” substitute “Part 6 rules”.
</p>
</content>
</hcontainer>
<hcontainer name="regulation" eId="regulation-7" period="#period5">
<num>
<noteRef href="#key-8b9673b19322bebece89ecb14d4d0dbe" marker="I7" class="commentary I"/>
7
</num>
<heading>
Amendment of section 395 of the
<abbr title="Financial Services and Markets Act 2000 c. 8" xml:lang="">2000 Act</abbr>
</heading>
<content>
<p>
In section 395(13) of the
<abbr title="Financial Services and Markets Act 2000 c. 8" xml:lang="">2000 Act</abbr>
after paragraph (b) insert—
</p>
<p class="BlockAmendment">
<mod>
<quotedStructure class="primary unknown main default" startQuote="" endQuote="">
<paragraph eId="d4e232">
<num>ba</num>
<content>
<p>96C;</p>
</content>
</paragraph>
</quotedStructure>
</mod>
<inline name="AppendText">.</inline>
</p>
</content>
</hcontainer>
<hcontainer name="regulation" eId="regulation-8" period="#period3">
<num>
<noteRef href="#key-c0c68cf0c732c5925481f19adb70f706" marker="I8" class="commentary I"/>
8
</num>
<heading>
Amendment of section 397 of the
<abbr title="Financial Services and Markets Act 2000 c. 8" xml:lang="">2000 Act</abbr>
</heading>
<paragraph eId="regulation-8-1">
<num>1</num>
<content>
<p>
Section 397 (misleading statements and practices) of the
<abbr title="Financial Services and Markets Act 2000 c. 8" xml:lang="">2000 Act</abbr>
is amended as follows.
</p>
</content>
</paragraph>
<paragraph eId="regulation-8-2">
<num>2</num>
<content>
<p>In subsection (4), for “price stabilising rules or control of information rules” substitute </p>
<p class="BlockAmendment">
<mod>
<quotedStructure class="primary unknown main default" startQuote="" endQuote="">
<p class="run-on"></p>
<paragraph eId="d4e268">
<num>a</num>
<content>
<p>price stabilising rules;</p>
</content>
</paragraph>
<paragraph eId="d4e274">
<num>b</num>
<content>
<p>control of information rules; or</p>
</content>
</paragraph>
<paragraph eId="d4e280">
<num>c</num>
<content>
<p>
the relevant provisions of Commission Regulation
<ref href="http://www.legislation.gov.uk/european/regulation/2003/2273">
(
<abbr class="Acronym" title="European Community">EC</abbr>
) No 2273/2003
</ref>
of 22 December 2003 implementing Directive
<ref href="http://www.legislation.gov.uk/european/directive/2003/0006">
2003/6/
<abbr class="Acronym" title="European Community">EC</abbr>
</ref>
of the European Parliament and of the Council as regards exemptions for buy-back programmes and stabilisation of financial instruments.
</p>
</content>
</paragraph>
</quotedStructure>
</mod>
<inline name="AppendText">.</inline>
</p>
</content>
</paragraph>
<paragraph eId="regulation-8-3">
<num>3</num>
<content>
<p>In subsection (5), the word “or” after paragraph (b) is repealed and after paragraph (c) insert—</p>
<p class="BlockAmendment">
<mod>
<quotedStructure class="primary unknown main default" startQuote="" endQuote="">
<p class="run-on">; or</p>
<paragraph eId="d4e308">
<num>a</num>
<content>
<p>
that he acted or engaged in the conduct in conformity with the relevant provisions of Commission Regulation
<ref href="http://www.legislation.gov.uk/european/regulation/2003/2273">
(
<abbr class="Acronym" title="European Community">EC</abbr>
) No 2273/2003
</ref>
of 22 December 2003 implementing Directive
<ref href="http://www.legislation.gov.uk/european/directive/2003/0006">
2003/6/
<abbr class="Acronym" title="European Community">EC</abbr>
</ref>
of the European Parliament and of the Council as regards exemptions for buy-back programmes and stabilisation of financial instruments.
</p>
</content>
</paragraph>
</quotedStructure>
</mod>
<inline name="AppendText">.</inline>
</p>
</content>
</paragraph>
</hcontainer>
<hcontainer name="regulation" eId="regulation-9" period="#period4">
<num>
<noteRef href="#M_I_390bb6aa-6add-459f-8eb7-eb97f46e3a2f" marker="I9" class="commentary I"/>
9
</num>
<heading>Revocation of the Traded Securities (Disclosure) Regulations 1994</heading>
<content>
<p>
The Traded Securities (Disclosure) Regulations 1994
<noteRef href="#f00006" class="footnote" marker="6"/>
are revoked.
</p>
</content>
</hcontainer>
<hcontainer name="regulation" eId="regulation-10" period="#period4">
<num>
<noteRef href="#M_I_317986bb-d88e-46c4-96d5-e193afdc8429" marker="I10" class="commentary I"/>
10
</num>
<heading>
Amendment of the
<abbr title="Financial Services and Markets Act 2000 (Prescribed Markets and Qualifying Investments) Order 2001 (S.I. 2001/996)" xml:lang="">2001 Order</abbr>
</heading>
<paragraph eId="regulation-10-1">
<num>1</num>
<content>
<p>
In the
<abbr title="Financial Services and Markets Act 2000 (Prescribed Markets and Qualifying Investments) Order 2001 (S.I. 2001/996)" xml:lang="">2001 Order</abbr>
, the following definition is inserted before the definition of a “
<abbr class="Acronym" title="United Kingdom">UK</abbr>
recognised investment exchange” in article 3 —
</p>
<p class="BlockAmendment">
<mod>
<quotedStructure class="unknown unknown unknown default" startQuote="" endQuote="">
<blockList class="unordered">
<item>
<p>“regulated market” has the meaning given in Article 1(13) of the investment services directive;</p>
</item>
</blockList>
</quotedStructure>
</mod>
<inline name="AppendText">.</inline>
</p>
</content>
</paragraph>
<paragraph eId="regulation-10-2">
<num>2</num>
<content>
<p>
In the
<abbr title="Financial Services and Markets Act 2000 (Prescribed Markets and Qualifying Investments) Order 2001 (S.I. 2001/996)" xml:lang="">2001 Order</abbr>
, for articles 4, 4A and 5 substitute—
</p>
<p class="BlockAmendment">
<mod>
<quotedStructure class="unknown unknown unknown default" startQuote="" endQuote="">
<hcontainer name="regulation" eId="d4e382">
<num>4</num>
<heading>Prescribed Markets</heading>
<paragraph eId="d4e386">
<num>1</num>
<intro>
<p>There are prescribed, as markets to which subsections (2), (3), (5), (6) and (7) of section 118 apply—</p>
</intro>
<subparagraph eId="d4e392">
<num>a</num>
<content>
<p>
all markets which are established under the rules of a
<abbr class="Acronym" title="United Kingdom">UK</abbr>
recognised investment exchange,
</p>
</content>
</subparagraph>
<subparagraph eId="d4e401">
<num>b</num>
<content>
<p>the market known as OFEX,</p>
</content>
</subparagraph>
<subparagraph eId="d4e407">
<num>c</num>
<content>
<p>all other markets which are regulated markets.</p>
</content>
</subparagraph>
</paragraph>
<paragraph eId="d4e413">
<num>2</num>
<intro>
<p>There are prescribed, as markets to which subsections (4) and (8) of section 118 apply—</p>
</intro>
<subparagraph eId="d4e419">
<num>a</num>
<content>
<p>
all markets which are established under the rules of a
<abbr class="Acronym" title="United Kingdom">UK</abbr>
recognised investment exchange;
</p>
</content>
</subparagraph>
<subparagraph eId="d4e428">
<num>b</num>
<content>
<p>the market known as OFEX.</p>
</content>
</subparagraph>
</paragraph>
</hcontainer>
<hcontainer name="regulation" eId="d4e437">
<num>5</num>
<heading>Qualifying Investments</heading>
<content>
<p>
There are prescribed, as qualifying investments in relation to the markets prescribed by article 4, all financial instruments within the meaning given in Article 1(3) of Directive
<ref href="http://www.legislation.gov.uk/european/directive/2003/0006">
2003/6/
<abbr class="Acronym" title="European Community">EC</abbr>
</ref>
of the European Parliament and the Council of 28 January 2003 on insider dealing and market manipulation (market abuse)
<noteRef href="#f00007" class="footnote" marker="7"/>
.
</p>
</content>
</hcontainer>
</quotedStructure>
</mod>
<inline name="AppendText">.</inline>
</p>
</content>
</paragraph>
</hcontainer>
<hcontainer name="regulation" eId="regulation-11" period="#period4">
<num>
<noteRef href="#M_I_0176f7b2-544a-48e3-c936-e8f4dffdb4f4" marker="I11" class="commentary I"/>
11
</num>
<heading>Amendment of the Financial Services and Markets Act 2000 (Recognition Requirements for Investment Exchanges and Clearing Houses) Regulations 2001</heading>
<content>
<p>
In the Schedule to the Financial Services and Markets Act 2000 (Recognition Requirements for Investment Exchanges and Clearing Houses) Regulations 2001
<noteRef href="#f00008" class="footnote" marker="8"/>
, paragraph 5 is repealed.
</p>
</content>
</hcontainer>
<hcontainer name="signatures" period="#period3">
<content>
<block name="signature">
<signature>
<person refersTo="#ref-d4e468">Nick Ainger</person>
<person refersTo="#ref-d4e470">Jim Murphy</person>
<role refersTo="#ref-d4e472">Two of the Lords Commissioners</role>
<organization refersTo="#ref-d4e474">of Her Majesty’s Treasury</organization>
<date date="2005-02-23">23rd February 2005</date>
</signature>
</block>
</content>
</hcontainer>
</portionBody>
</portion>
</akomaNtoso>