Section 131AA Reporting of infringementsF1

(1)

This section applies to employers who—

(a)

provide regulated financial services;

(b)

carry on regulated activities in reliance on the exemption in section 327; or

(c)

are recognised bodies F2... or third country central counterparties.

(2)

Employers must have in place appropriate internal procedures for their employees to report contraventions of the market abuse regulation or any supplementary F3market abuse legislation.

(3)

In this section—

“employee” and “employer” have the meaning given in section 230 of the Employment Rights Act 1996;
“recognised body” has the meaning given in section 313;
“regulated financial services” has the meaning given in section 1H.

Annotations

Textual amendments

F1: Ss. 131AA-131AE inserted (3.7.2016) by The Financial Services and Markets Act 2000 (Market Abuse) Regulations 2016 (S.I. 2016/680), regs. 1, 9(15)
F2: Words in s. 131AA(1)(c) omitted (31.12.2020) by virtue of The Market Abuse (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/310), regs. 1(3), 5(13)(a); 2020 c. 1, Sch. 5 para. 1(1)
F3: Words in s. 131AA(2) substituted (31.12.2020) by The Market Abuse (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/310), regs. 1(3), 5(13)(b); 2020 c. 1, Sch. 5 para. 1(1)

Notes on Part VIII

Textual amendments

F1: Pt. 8 heading substituted (3.7.2016) by The Financial Services and Markets Act 2000 (Market Abuse) Regulations 2016 (S.I. 2016/680), regs. 1, 9(2)

Modifications

C1: Pt. 8 applied (with modifications) (18.6.2012) by The Recognised Auction Platforms Regulations 2011 (S.I. 2011/2699), regs. 1(2)(b), 6, Sch. 1 (as amended (3.1.2018) by The Financial Services and Markets Act 2000 (Markets in Financial Instruments) (No.2) Regulations 2017 (S.I. 2017/1255), regs. 2(b), 9)