Insider Dealing & Market Manipulation

CIF COMPLIANCE TRAINING PROGRAMME

The Market Abuse Regulation (EU) No 596/2014 in the Cyprus regulatory framework

For employees of Cyprus Investment Firms (CIFs)   |   Supervisory framework: CySEC, ESMA, EU law

Trainer notes: Welcome participants. This training is part of the firm’s obligations to maintain staff knowledge and competence in relation to market abuse. It is built around the actual text of Regulation (EU) No 596/2014 (MAR), the Cyprus Market Abuse Law and CySEC guidance.

About this training

Legislation first: each key provision is presented in the words of the law, then explained in plain language.

Built on the primary legislation

The core of this deck consists of excerpts from Regulation (EU) No 596/2014 (the Market Abuse Regulation, “MAR”), Directive 2014/57/EU (CSMAD) and the Cyprus Market Abuse Law of 2016 (Law 102(I)/2016).

Plain-language explanations

Every legislative excerpt is paired with a short explanation and, where useful, a practical example set in the day-to-day work of a Cyprus Investment Firm.

Who must attend

All CIF staff: dealers, sales, portfolio managers, analysts, back office, IT and support functions. Market abuse rules apply to any person – not only front-office employees.

Why it matters to you personally

Insider dealing and market manipulation expose you personally to administrative fines of up to €5,000,000, criminal prosecution and imprisonment, dismissal and industry bans – in addition to sanctions on the firm.

Trainer notes: Explain the structure: law first, explanation second. Emphasise personal liability from the outset – sanctions apply to natural persons, not only to the firm.

 Agenda

1. Introduction & objectives

Why market integrity matters; the three forms of market abuse; roles of the EU, ESMA and CySEC.

2. Core EU legal framework

From MAD to MAR; scope; inside information; insider dealing; unlawful disclosure; market manipulation; CSMAD.

3. Cyprus framework & CySEC

Market Abuse Law 102(I)/2016; CySEC powers, guidance (GD-IF-05) and supervisory priorities.

4. MiFID II obligations

Systems and controls, STOR reporting, conduct rules and how MiFID II supports MAR enforcement.

5. Practical compliance

Disclosure of inside information, insider lists, PDMR rules, information barriers, surveillance and records.

6. Sanctions & enforcement

Administrative measures and fines under MAR Art. 30; criminal penalties; publication of decisions.

7. Case studies & scenarios

Realistic CIF scenarios: front running, spoofing, tips, closed periods and failure to report.

Close: golden rules

Decision tree, red-flag checklist, key takeaways and where to get help inside the firm.

Trainer notes: Walk through the seven chapters of the programme. Total duration approximately 3 hours including scenario discussion

This training provides 5 CPD hours.