Asset managers risk reputation by 'sweeping market abuse regulation under the carpet'

Failing to prioritise 'critical' regulation

Investment firms are putting their reputations on the line by failing to prioritise their compliance with the 'critical' Market Abuse Regulation (MAR) over more widely recognised directives, asset management consultant Alpha FMC has said.

Duncan Spencer, director at the firm, said managers have largely ignored MAR in favour of legislation such as the Markets in Financial Instruments Directive II (MiFID II) and UCITS V, despite the earlier introduction of MAR on 3 July this year. "With all the spotlight being taken by other onerous pieces of upcoming regulation, MAR is perhaps getting swept under the carpet and receiving less focus from senior management, despite being a critical piece of legislation," he said. "MAR is aimed at ensuring asset management and financial services firms are operating with good practice and g...