New market manipulation rules under the spotlight at seminar

A new European Union regulation designed to address the risk of market manipulation in financial securities came under the spotlight at a seminar in Exeter.

Speakers at the second PKF Francis Clark South West Alternative Investment Market (AIM) seminar highlighted the actions needed to avoid falling foul of the Market Abuse Regulation (MAR).

From July 3, 2016, firms across the EU must have safeguards in place to identify and reduce the risk of market abuse and other financial crime.

Delegates from companies listed on AIM heard the importance of complying with MAR. While there are similarities to existing requirements, there are also key differences which expand the scope of dealing with market abuse risks.

Speakers at the seminar included representatives from the London Stock Exchange; the Financial Reporting Council; law firm Ashfords; financial services company WH Ireland and Walbrook Public Relations.

Glenn Nicol, PKF Francis Clark Partner and Head of Corporate Services, who chaired the seminar, said: “We spoke to delegates before the event and invited their views on what they’d like us to cover.

“Without question, the hot topic at the moment is MAR and three of the speakers specifically covered this in their presentations.

“In addition, Claire Dorrian from the London Stock Exchange gave an update on the AIM market and Carol Page, from the Financial Reporting Council, provided both the latest information on AIM and smaller listed company projects along with an update on corporate reporting matters.

“The event went very well and the feedback from delegates suggested they found the seminar useful and thought-provoking,” added Glenn.

Stephanie Henshaw, PKF Francis Clark Head of Audit, Assurance and Financial Reporting, said: “We were delighted to have a representative from the Financial Reporting Council as one of our speakers for the second year, providing a direct link with the financial reporting regulator.”

Sectors represented by delegates included marketing, property, minerals and energy.

PKF Francis Clark has eight offices across Cornwall, Devon, Dorset, Hampshire, Somerset and Wiltshire.

The firm is part of the PKF UK&I network which is ranked 11th in the Accountancy Age 2016 survey of top accountancy firms.

PKF UK&I is auditor to more than 20 AIM companies with a total market capitalisation of over £350 million.


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