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Part B Commentary, 2 Inside Information, Insider Dealing, Unlawful Disclosure of Inside Information, and Market Manipulation, Art.12: Market manipulation

Edited By: Marco Ventoruzzo

From: Market Abuse Regulation: Commentary and Annotated Guide (2nd Edition)

Edited By: Marco Ventoruzzo, Sebastian Mock

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2023. All Rights Reserved.date: 23 July 2024

Subject(s):
Securities — Market abuse — Market Abuse Directive (MAD) — Regulated activities

This chapter examines the provisions set out in Article 12. In this Article, the Market Abuse Regulation seeks to prevent, or at least to reduce, the existence of practices that can distort the trading price or trading volume of securities. To that end, it addresses the dissemination of false or misleading information, as well as other forms of behaviours potentially affecting the price of securities. It should be noted, however, that, due to the evolving nature of financial markets, which sees new products and market practices constantly being developed, detecting market manipulation practices can be a difficult task. Since the advent of the 2008 financial crisis and the recognition that we live in an intrinsically interconnected world, the possibilities and forms of which market integrity can be undermined are multiple. Article 12 thus represents the Market Abuse Regulation’s efforts, at best to get rid of and, at worst, to minimize, events of market manipulation.

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