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ARTICLE · 01 AUGUST 2022

FCA Consults On Functioning Of Equity Secondary Markets

Herbert Smith Freehills Kramer LLP
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The FCA has published a consultation on proposals aimed at improving the functioning of equity secondary markets (CP22/12).

United KingdomFinance and Banking
Marina Reason
Marina Reason
Patricia Horton
Patricia Horton

The FCA has published a consultation on proposals aimed at improving the functioning of equity secondary markets (CP22/12). The proposals include changing aspects of trade reporting, waivers from pre-trade transparency and the tick size regime, and replacing the systematic internaliser (SI) status criterion for establishing when an investment firm is required to report transactions with a new designated reporter regime.

This consultation paper forms part of the Wholesale Markets Review (WMR) conducted by the FCA and HM Treasury (HMT). It also supports the objectives set out in the FCA's Strategy 2022-2025 and Business Plan which included a commitment to strengthen the UK's position in wholesale markets, including developing proposals to improve the functioning of equity secondary markets.

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