Insider dealing and money laundering etc. Amendments to the Market Abuse Regulation Transactions by senior managers
MAR also requires persons discharging managerial responsibilities, and those closely associated with them, to notify the issuer and the FCA of their transactions in financial instruments related to that issuer. Currently, the notifications should be made to the issuer no later than three business days after the date of the transaction. The issuer is then also required to notify the public of such transactions no later than three business days after the transaction.
	This timetable for both notifications running concurrently from the date of the transaction creates a tight timetable for issuers to notify the public. In some cases, the issuer may only receive the notification from the senior manager or closely associated person on the day they are also required to publish the transaction, creating a challenging administrative burden for the issuer.
	The Act amends MAR to adjust the timetable within which issuers are required to disclose transactions by their senior managers to the public so that all issuers will now be required to disclose transactions within two working days of those transactions being notified to them by the senior managers or the persons closely associated with them. This is a more practical and sensible timetable, which preserves the timely and transparent disclosure of these transactions to markets but does not disproportionately burden issuers.
	These changes are closely aligned with changes recently made to the EU MAR.