The QCA Legal Committee examined this call for evidence from the European Commission on the functioning of the Market Abuse Directive (MAD), which suggested extending the Directive to companies on MTFs (e.g. AIM and PLUS). The QCA noted that it supports the extension of MAD to exchange regulated markets and MTFs in order to achieve more harmonisation in rules across and efficiency in markets. However, if it were to be extended, we suggest putting in place a market abuse regime that is less burdensome and more flexible for those MTFs that operate as exchange regulated markets, such AIM and PLUS markets in the United Kingdom.
We also submited evidence for the impact assessment of this Directive.