UK leading fight against suspicious transactions, financial body finds

19 Dec 2019

The UK is leading the fight against suspicious transactions and order reports (STORs), the European Securities and Markets Authority (ESMA) has found.

According to a new ESMA report, Britain is one of six countries that are fully compliant with Market Abuse Regulation (MAR) rules. Belgium, France, Italy, Portugal and the Netherlands join the UK in leading the crackdown on suspicious transactions.

The report revealed that there has been a 'significant increase' in STORs, and suggested that national supervisors should do more to 'ensure all financial participants play their part in combatting market abuse'.

Investment firms, trading venues and individuals arranging or executing transactions are required to report STORs to their national competent authority (NCA). This allows NCAs to investigate suspicious behaviour and market manipulation.

'Both regulators and market participants need to play their role when it comes to detecting and reporting suspicious activity to support the prevention or investigation of market abuse,' said Steven Maijoor, Chair of the ESMA.

The ESMA's report can be read in full here.