FCA Market Watch 71
In their 71st edition of Market Watch, the FCA has issued a reminder to the market of the legal requirement within the UK Market Abuse Regulation (MAR) to include personal information in insider lists. This data should be inclusive of personal telephone and national identification numbers which are often excluded.
This information is used to eliminate individuals from their enquiries when investigating suspicious activity. Without it, they are unable to cross-reference against MiFIR transaction reports, MAR suspicious transaction and order reports and other information sources.
The FCA has also reiterated the importance of firms strictly limiting access to inside information to employees who require access to perform their role in order to prevent market abuse.
Interestingly the FCA also makes note that the first priority national identifier for UK nationals is the national insurance number. This is as per Annex II of RTS 22 which provides the full suite of national identifiers.
