ENTRY INTO FORCE, ON 3 JULY 2016, OF THE NEW ADMINISTRATIVE REGIME ON MARKET ABUSE MAR REGULATION

In June 2014, Regulation 596/2014 on market abuse (the so-called MAR Regulation, hereinafter the “Regulation”) and Directive 2014/57/EU on criminal sanctions for market abuse (hereinafter the “Directive”) were published in the Official Journal of the European Union.

The Regulation repeals the former European framework, in particular Directive 2003/6 on insider dealing and market manipulation (market abuse).  The new Directive completes, for its part, the Regulation by requiring the Member States to provide for harmonized criminal sanctions regarding market abuses.

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