The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017 No. 701

PART 6 Miscellaneous FCA functions in relation to the markets in financial instruments directive and markets in financial instruments regulation

Provision to ESMA of reports by recognised investment exchanges of infringements of the exchange’s rules, disorderly trading, suspected market abuse, and systems disruptions

43.—(1) If the FCA receives a report from a recognised investment exchange informing the FCA of—

(a) significant infringements of the exchange’s rules;

(b) disorderly trading conditions;

(c) conduct that may indicate behaviour which is prohibited under the market abuse regulation; or

(d) system disruptions in relation to a financial instrument;

on, or related to, a trading venue operated by the exchange, the FCA must communicate that information to ESMA and the competent authorities of all the other EEA States.

(2) But where the report informs the FCA of conduct that may indicate behaviour which is prohibited under the market abuse regulation the FCA must be satisfied such behaviour is being, or has been, carried out before it communicates the information to ESMA and the competent authorities of all the other EEA States.