October is the MADdest month

Timon Molloy, Editor

Market abuse is now the province of the Markets Division (MD), merged creation of the Markets and Exchanges Division and the UK Listing Authority following the recent FSA restructure. Departments may rename but Mark Wharton continues to troubleshoot as Market Conduct Manager and it may well be a case of trouble ahead as regulator and industry face the prospect of revisions to the Code of Market Conduct (COMC) by 12 October 2004, the deadline for national adoption of the EU Market Abuse Directive (MAD). Mr Wharton set out the regulator’s current practice, the timetable for change and likely amendments in a recent address to the Securities Institute’s Market Abuse Prevention Forum 2004.