Investment exchanges : essential elements and implications of recent developments in local legislation

Abstract

Investment Exchanges are presently experiencing a drastic evolution. Changes are undergoing both within the local scenario with the recent introduction of the Financial Markets Act, its subsidiary legislation and the Insider Dealing & Market Abuse Offences Act, and also at European Union Level. Recent years have witnessed several changes within the legal structure of the Financial Services sector at European Union Level with the ambition to create a harmonized and integrated single market in Financial Services which includes the securities business and thus Investment Exchanges. The overhaul of the structure is an ongoing process which is also being instigated by the integration of technology in this industry, which is making regulation always more complex and technical.