Capital market - Compliance | Fieldfisher
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Capital market - Compliance

Compliance with capital market regulations creates confidence among capital market participants in the prospects for success and in the quality and professionalism of a company's management, which increases demand for the company's shares. This is the theory - in reality, non-compliance with capital market regulations can lead to severe sanctions.

New measures in the capital market

The implementation of regulations such as the Market Abuse Regulation (MAR) or MiFID II/MiFIR has led to a considerable increase in the complexity of the regulations to be complied with for market participants. Investment firms must comply with the organisational requirements for financial institutions and, in particular, set up a permanent and effective compliance function.

The appropriateness and effectiveness of the measures taken must be monitored and regularly assessed - measures must also be taken to remedy any shortcomings. Special requirements apply to the outsourcing of activities and processes.

Supervisory law provides for comprehensive documentation obligations, accompanied by recording and retention obligations.

In addition, there are closely regulated transparency provisions, be it insider and ad hoc law for issuers, the law on director's dealings and voting rights, or for multilateral trading systems and for systematic internalisers, the regulatory regime for pre- and post-trade transparency. Finally, all measures must comply with the requirements for preventing market manipulation.

Approach and Range of Services

Approach

As part of our capital market compliance services, we assist you in particular by providing advice and support in the following areas:

  • Fulfilment of disclosure and reporting obligations, in particular directors' dealings notifications, ad hoc disclosures and corporate governance declarations
  • Takeover matters
  • Initial public offerings (IPO) and delisting 
  • Corporate actions and securities prospectuses 
  • Public general meetings
  • Prevention of insider trading and market manipulation 
  • Issues relating to securities trading law
A dynamic data visualization with a 3D grid displaying various numerical values, ranging from 200s to 900s. Numbers are scattered across the graph, with some appearing larger and more prominent, indicating probable data points or peaks. The background gradient shifts from blue to pink.

Range of Services

As part of our capital market compliance services, we assist you in particular by providing advice and support in the following areas:

  • Fulfilment of disclosure and reporting obligations, in particular directors' dealings notifications, ad hoc disclosures and corporate governance declarations
  • Takeover matters
  • Initial public offerings (IPO) and delisting 
  • Corporate actions and securities prospectuses 
  • Public general meetings
  • Prevention of insider trading and market manipulation 
  • Issues relating to securities trading law

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