Nick Bayley Featured in Thomson Reuters on Post-MAR Hangover

Nick Bayley, Managing Director in the Compliance and Regulatory Consulting practice at Duff & Phelps, spoke to Thomson Reuters about the Market Abuse Regulation (MAR)-mandated automated trade surveillance systems and how some firms who recently switched on the systems now struggling to calibrate them to capture the full range of abusive behavior foreseen by regulators. This is failing to reduce false positives and fulfill the systems' potential as risk management tools. The FCA also took enforcement action against a firm for MAR surveillance failures and launched a multi-firm work program to assess the buy-side's grasp of trade surveillance and MAR compliance.

"It is no longer acceptable to plug and play these systems. Firms should get some help from the providers in terms of setting the parameters. Within all the reputable surveillance providers there is a core suite that covers a lot of the behaviors in [MAR] Annex 2, but firms do need to tune their systems because they need to be risk-based and fit the firm's trading profile," said Nick.

Read the full article on Complinet

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