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After first being issued in draft in July 1998 and then taking a year to go through Parliament, the Financial Services and Markets Act 2000 (FISMA) finally became law on 14th June, 2000. The Treasury, the government department responsible for the UK financial services industry, has, however, just announced that the FISMA will not come fully into force until summer 2001, although some sections may perhaps come into force earlier.

The author explains the new civil offence of market abuse introduced by the Financial Services and Markets Act 2000 (FSMA 2000) in England and Wales, looking at its relationship with criminal offences, examples of abusive behaviour and the possibility of “innocent” market abuse. Article by Charles Abrams (Partner, S J Berwin & Co). Published in Amicus Curiae - Journal of the Institute of Advanced Legal Studies and its Society for Advanced Legal Studies. The Journal is produced by the Society for Advanced Legal Studies at the Institute of Advanced Legal Studies, University of London.