PART 13Auction Surveillance, Remedial Measures and Sanctions
Notification of market abuseI139
1
The appointed auction platform must—
a
establish and maintain effective arrangements, system and procedures—
i
to prevent and detecting market abuse and attempted market abuse,
ii
detect and report suspicious orders and transactions;
b
report to the FCA, any suspicions of market abuse or attempted market abuse by any person admitted to bid in the auctions or by any person on whose behalf the person admitted to bid in the auctions is acting,
in accordance with Article 16 of the Market Abuse Regulation and with any technical standards made under that Article.
2
The report given under paragraph (1) must state what remedial action it F2... proposes to take to counter the wrongdoing referred to in paragraph (1).
F13
Where the appointed auction platform gives a report under paragraph (1) to the FCA, the appointed auction platform must inform the auctioneer and the Treasury of that fact and the remedial action proposed as soon as reasonably practicable.