Securities markets regulation is concerned with overseeing the circulation of information about securities that are traded, monitoring the market for the abuse of information or financial resources to manipulate market and prices and supervising the corporate governance of organised markets.
The purpose of securities markets regulation is to promote an efficient and fair securities market.
In Ireland, the legal framework for securities markets regulation is based closely on EU law and a number of EU Directives – the Prospectus Directive, the Market Abuse Directive, the Transparency Directive and the Markets in Financial Instruments Directive – have been transposed into Irish law.
The Financial Regulator has been appointed competent authority for most of this law.
The Markets Supervision Department of the Financial Regulator has responsibility for the competent authority securities markets functions arising from these EU Directives. In this capacity, it has issued Prospectus, Market Abuse and Transparency Rules.
With regard to the Markets in Financial Instruments Directive, the Markets Supervision Department is responsible for the securities markets related competent authority functions therein e.g. the prudential supervision of the Irish Stock Exchange Limited (the ISE).
Under the European Communities (Markets in Financial Instruments) Regulations 2007, the Main Market of the ISE is a Regulated Market and the ISE is the Market Operator of the Main Market and other markets which are Multilateral Trading Facilities (MTFs).
The Financial Regulator is responsible for approving the rules of an investment firm or market operator that operates an MTF.
The Financial Regulator is currently developing guidelines for investment firms or market operators that are authorised to operate an MTF. Once finalised, notifications will be included in Regulatory Connection and the guidelines will be published in this section of the website.
Transaction Reporting Contact - For any queries on transaction reporting please telephone 01 2244243 or 01 2244247.