Date published:
The Market Monitoring Unit (MMU) have recently undertaken a review of the Inquiry Procedure Manual (SEM-21-020) and are today publishing revisions to the manual (SEM-26-48).
The majority of revisions are intended to use more concise language, remove duplication of wording and ensure correct structuring and formatting throughout.
The revisions also include removing the provision that the MMU will close a case if a market participant agrees to amend its behaviour and the removal of narrative around the MMU issuing binding directions under legislation, instead noting that the RAs policies and procedures may be enacted. An additional option is included for Senior Staff Group (SSG) consideration around the recovery of monies; this has been in practice per the provisions of the Trading & Settlement Code following Mod_07_23, however it had not yet been incorporated into the inquiry manual.