CODE OF CONDUCT This Code of Conduct provides guidance on the provisions in MAR 8 in the FCA Handbook listed on the left-hand side below. Text from MAR 8 is shown in italics. Whilst the Code summarises the relevant FCA rules in places, firms should refer to the FCA Handbook for the FCA rules themselves. 1. Governance arrangements MAR 8.2.1 R Code of Market Conduct Primer What is the Code of Market Conduct? The Code of Market Conduct provides guidance on FCA's implementation of the Market Abuse Directive. It offers assistance in determining whether or not behaviour amounts to market abuse, The Code applies to all who use the UK financial markets. The framework is already in place to substantiate any market code (eg, FCA Principle 5, generally regulatory oversight, and the Senior Managers and Certification Regime (SM&CR) expecting individuals to "observe proper standards of market conduct" in regulated and unregulated activities). based on a demonstrable breach of the FCA's Individual Conduct Rules, the obligation to observe proper standards of market conduct under the SM&CR, and/or a failure of a Senior Manager to exercise Reasonable Steps, rather than a breach of the conditions of an industry code. In that respect, we welcome Monitoring and surveillance programs in the financial services sector are coming under more intense scrutiny from regulators, who are increasingly finding current programs inadequate in the face of recent poor conduct in the industry. Share Tweet Share Pin In case you have missed the latest news from the Financial Conduct Authority (FCA), below is a summary of selected events. Enforcement Actions - Speech by Mark Steward On 4 April, Mark Steward, Director of Enforcement and Market Oversight, gave a speech to draw attention to recent investigations and speak to a number FCA Thematic Review of Confidential and Inside Information Flows March 7, 2016 . Financial Services and Regulation . In December 2015, the United Kingdom's Financial Conduct Authority (FCA) published the results of its Thematic Review on flows of confidential and inside information in small and Rules of Civil Procedure or by order of a court with jurisdiction over the Farm Credit Administration, any legal process upon the Farm Credit Administration shall be duly issued and served upon the Secretary to the Farm Credit Administration Board, 1501 Farm Credit Drive, McLean, Virginia 22102-5090. The Financial Conduct Authority (FCA) Handbook of Rules, Senior Management Arrangements, Systems and Controls (SYSC) requires that the overall responsibility for anti-money laundering and counter-terrorism financing (AML/CTF) systems and controls within a firm, must be designated to a member of the board or senior management but there must also Market conduct FCA expectation: Firms must consider the potential impact of their algorithmic trading on market integrity, monitor for potential conduct issues and reduce market abuse risks. Good Practice: • Firms who consider how they can tailor their monitoring and surveillance systems to specific risks The FCA is concerned that, as a result, the use of 'short codes' may not be as effective as using 'long codes' from a market abuse surveillance perspective. In addition, the FCA has also observed member firms making errors when the short-to-long code mapping is provided to the trading venue.