Market abuse

Market abuse rules protect confidence in financial markets by prohibiting trading on inside information, improper disclosure of such information and manipulative conduct such as misleading orders, false signals or price distortion. In Switzerland, market abuse is addressed through supervisory, administrative and criminal mechanisms, and trading venues impose related rules for listed issuers and participants. Firms need controls over information barriers, insider lists, employee trading and transaction monitoring. Cross-border trading may also trigger EU or other foreign market abuse regimes, particularly where instruments are traded on multiple venues.