Newsflash EU: Proposal for EU-wide Criminal Sanctions for Market Abuse
The European Union is considering EU-wide mandatory criminal sanctions for insider dealing and market manipulation (market abuse). While a number of Member States already have such sanctions in place, others have not. Current EU legislation and in particular the Market Abuse Directive (Directive 2003/6/EC) only broadly refer to an obligation for the Member States to take appropriate administrative measures against these practices but stay away from the EU-wide criminalisation that is now on the table. Like any EU action in the field of criminal law, this is politically sensitive.
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