Safe harbours

The supplement to CP59 “Market abuse: a draft conduct of market conduct”, which was issued at the beginning of December, seeks views on three subjects: (1) the prohibition on requiring or encouraging another person to abuse the market, with special focus on intermediaries; (2) interaction between the listing rules and the market abuse framework with a focus on the rules that will provide safe harbour status; and (3) the relationship between the City Code on Takeovers and Mergers, the Rules Governing Substantial Acquisitions of Shares and the market abuse regime with reference to the City Code provisions that will operate as safe harbours.