FCA sets out changes to the equity secondary markets

This is a summary of an article published by the global law firm Ashurst https://www.ashurst.com/.

The FCA has published Policy Statement setting out changes to equity secondary markets (PS 23/4). The changes form part of the broader Wholesale Markets Review, which the FCA has been consulting on alongside the Government. The FCA confirms that the changes will be delivered using the FCA's existing powers and are not subject to changes that are to be introduced to UK MiFID under the Financial Service and Markets Bill 2022-23.

The amendments cover: post-trade transparency reports; a new designated reporter status for OTC trades; waivers from pre-trade transparency; and the tick-size regime. The new rules are set out in the Technical Standards (Markets in Financial Instruments Transparency) Instrument 2023 (FCA 2023/19). For https://www.ashurst.com/en/insights/changes-to-uk-mifid-confirmed-fca-policy-statement-ps23-4/