Our Primary Markets Monitoring (PMM) team monitors the market on a real-time basis to make sure it operates smoothly. This includes actively monitoring regulatory information services, media, other forums and price movements.
The PMM team makes sure that:
- issuers are complying with their disclosure obligations under the Market Abuse Regulation (UK MAR) on an ongoing basis
- any issues are addressed as soon as possible
When we make contact with issuers
If we see unconfirmed media speculation that could indicate a leak of inside information under UK MAR, market rumours and/or an unexplained significant share price movement, we may follow this up.
We do this by contacting the issuer or its advisors as soon as possible to discuss the issuer’s disclosure obligations. This could include asking whether the speculation is true, and if so whether it constitutes a leak of inside information.
We may also ask the issuer to provide its analysis of whether it's currently in possession of inside information (as defined under article 7 of UK MAR) and whether it's currently delaying disclosure of inside information under article 17 of UK MAR.
Our enquiries can occur before or after the market opens, or during its operation.
How we make contact
Who we contact will depend on the nature of the issue, any previous cases we have dealt with, or who we are able to get in touch with at that time.
If we don’t have up-to-date contact details, our default contact will tend to be the issuer’s Company Secretary. We believe that they are likely to be aware of any inside information considerations taken by the issuer.
In all cases, we would first verify that the person we have contacted is authorised to respond to us on behalf of the issuer.
Under Listing Rule 9.2.11R, a premium listed company must make sure that it has nominated at least 1 appropriate person to act as a first point of contact with us in relation to the company’s compliance with the Listing Rules and Disclosure Requirements and Transparency Rules.
We expect this person to be:
- knowledgeable about the listed company and the Listing Rules applicable to it
- contactable on business days between 7am and 7pm
- capable of making sure that appropriate action is taken on a timely basis
Check your contact details are correct
If you’re an issuer, please make sure your contact details are up to date for the relevant individuals by completing an issuer contact details form.
You can also email [email protected].