Protection of Investors (Market Abuse) (Bailiwick of Guernsey) Regulations, 2008

Summary

This Guernsey statutory instrument implements section 41A of the Protection of Investors (Bailiwick of Guernsey) Law, 1987 by defining the scope of the statutory market abuse offence. It does not create new licensing or filing duties; instead it specifies which markets and investments fall within the offence.

• Prescribed markets: A market to which section 41A applies is any market that is a regulated market under an order made under section 9(1) or 15(1)(b) of the Company Securities (Insider Dealing) (Bailiwick of Guernsey) Law, 1996.
• Qualifying investments: Investments qualifying for the purposes of a prescribed market are those that are controlled investments under the Protection of Investors (Bailiwick of Guernsey) Law, 1987.
• Territorial effect: The Regulations have effect throughout the Bailiwick of Guernsey.
• Commencement: The Regulations came into force on 1 December 2008.

In effect, this instrument sets the perimeter for what counts as market abuse under the 1987 Law by tying it to markets and investments already designated under the 1996 Insider Dealing Law and the controlled investments regime, rather than imposing separate compliance steps on firms.

Applies to

persons trading or dealing in controlled investments on regulated markets in the Bailiwick of Guernsey, market participants subject to the Protection of Investors (Bailiwick of Guernsey) Law, 1987

Deadlines

• 1 December 2008: Date on which the Regulations came into force