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The UK Proposes Changes to the Regulation of Equity Secondary Markets
August 17, 2023In Policy Statement 23/4 (PS23/4) on “Improving Equity Secondary Markets,” the UK’s Financial Conduct Authority sets out its final proposed amendments to:
- Post-trade transparency requirements, including a new “designated reporter regime” (“DRR”);
- Pre-trade transparency waivers;
- The tick size regime;
- Market resilience measures during trading venue outages; and
- Requirements that speak to the way retail orders are executed.
