Market Abuse risks are frequently characterised as low-frequency risks, although normally high impact. However, there is a growing body of evidence that this may not be an entirely accurate assessment. Since 2007, the number of suspicious trades that firms have reported to the FCA under the current reporting regime has increased dramatically. Following the implementation of the Market Abuse Regulation (MAR) last year, it is expected that both the volume and scope of incidents reported will increase further.
In addition to providing you with a MAD II health check, Bovill is also able to provide you with wider market abuse prevention support. At Bovill, we have the experience to assist you with the complete cycle of Market Abuse challenges:
- Prevention – We can review your organisation’s key market abuse risks and determine essential steps to enhancing your resilience
- Training – We provide training on the key risks, your obligations and the potential civil and criminal sanctions
- Monitoring and Detection – We can assess your monitoring and detection arrangements
- Reporting and Disclosure – We can review your Suspicious Transaction Reporting process to make sure it is fully compliant
- Internal Investigation – We can help you to assess the nature and extent of an incident, determine its impact, and whether controls were absent, circumvented or failed.
- External Investigation – Together, we can assist you in meeting the regulator’s expectations when faced with potential enforcement action. This may include for example, performing a mock visit, reviewing your response to an FCA information request or responding to a regulatory attestation
- Remediation – We can determine the key steps to ensuring effective preventative action is implemented.