The FCA is responsible for enforcement action in respect of insider dealing (both criminal and civil) under the Criminal Justice Act 1993 and UK MAR. It has a range of statutory powers to assist with its duties, including through informal guidance, investigation, or early intervention measures, as well as using its powers to initiate civil, criminal, and/or disciplinary actions.
The FCA works with the financial services industry to identify and prevent market abuse, which includes insider dealing. It also undertakes its own surveillance of financial markets and has systems for identifying insider dealing.
The Office of Gas and Electricity Markets (OFGEM) is responsible for the enforcement of REMIT in the UK. For more information on REMIT enforcement, contact us.