Purpose
1. The purpose of the Code of Market Conduct ("CMC") is to supplement the Market Abuse provisions in Part 8 and Part 9 of the Financial Services and Markets Regulations 2015 ("FSMR").
2. The CMC is intended to:
a. assist persons in determining whether or not conduct amounts to Market Abuse;
b. assist persons such as Authorised Persons and Recognised Bodies who may be subject to obligations to monitor for, prevent, or report Market Abuse to comply with their obligations; and
c. clarify that certain market practices do not, in the Regulator's view, ordinarily amount to Market Abuse.
3. The CMC is relevant to any person to whom Part 8 and Part 9 of the FSMR apply.
Parts 8 and 9 apply to persons generally, that is:
a. whether an individual, Body Corporate or body unincorporated; and
b. whether regulated by the Regulator (such as an Authorised Person or a Recognised Body) or unregulated.
Structure
4. The Chapters in the CMC generally set out for each type of Market Abuse:
a. the text of the prohibition and relevant definitions;
b. the Regulator's interpretation of elements of the prohibition (including factors it...