On 1 July, 2005, the UK legislation and Financial Services Authority (FSA) rules implementing the European Union (EU) Market Abuse Directive come into force. They bring with them some important changes for issuers of publicly traded securities, their advisers and senior management, for those authorised under the Financial Services and Markets Act 2000 (FSMA), for those in the media who recommend investments or investment strategy and for participants in the investment markets.
The central prohibitions
