Market Integrity, Transparency & Trade Compliance

About market abuse regulations, related prohibitions and obligations, supervision, compliance risk, sanctioning and other potential implications.

Duration & frequency
1-day session, provided as introduction to familiarise learners, and/or provided as periodic training. In any case, obviously, the latest updates are included, as well as the most recent cases.

When?
This 1-day workshop is provided each year on the following three dates:

• 3^rd Monday in February – Winter session
• 2^nd Monday in June       – Spring session
• 2^nd Monday in October  – Autumn session

Target groups
In general, suitable for any new recruit in a business, control or support function at a market operator, market facilitator or market participant and, in particular, suitable for any asset or plant manager.

Learning objectives:

• Getting a clear overview of market abuse regulations in the commodity & energy markets.
• Familiarise with the objectives; the purpose of market abuse regulations.
• Master expertise about the main provisions of relevant regulations.
• Understand enforcement; the role of supervision and supervisors.
• Master practical knowledge about inside information.
• Understand the prohibitions.
• Conquer the obligations.
• Being aware of the relevance of compliance.
• Familiarise with sanctioning in case of non-compliance.
• Understand the implications of certain market activity, organisational setups and procedures.

Content
The following topics will be addressed during the workshop:

• Regulation(s)
  • Background & Scope
• Prohibitions
  • Insider trading
  • Market manipulation
  • Disclosing inside information unlawfully
• Obligations
  • To publish inside information
  • To register with authority
  • To report data
  • To perform monitoring/surveillance
    • Reporting suspicions
• Compliance
  • Compliance functions
    • Tasks
  • Compliancy framework
• Inside information
  • Insiders
• Anyone can abuse the market
  • Disclose inside information improperly
  • Disseminate false/misleading info
• Non-compliance
  • Sanctioning
    • Administrative & criminal sanctions
    • Criteria: effective, dissuasive, and proportionate
• Prevention & detection
  • Procedures
    • Internal guidelines
    • Chinese walls
• Market monitoring & trade surveillance
  • Supervision & supervisors
    • The role of regulatory authorities
  • Market monitoring
    • Regulatory authorities
  • Surveillance obligation
  • Surveillance systems
  • Criteria to identify market abuse
  • Case handling
• Jurisprudence
• Case studies