Overview

On 25 October 2011, the European Commission adopted a proposal for a regulation on insider dealing and market manipulation and a proposal for a directive on criminal sanctions for insider dealing and market manipulation.

The proposals aim to replace and extend the existing legal framework and to adapt it to market developments since 2003. Notably, the market abuse regime shall be extended to cover financial instruments traded on multilateral trading facilities and other new types of organised trading facilities in at least one Member State as well as financial instruments traded over-the-counter.

This briefing from CEE specialists Schoenherr explains how the proposals aim to reduce regulatory complexity and analyses in detail the key issues imposed by the Directive.

Click 'View Briefing' for the full analysis.