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Part B Commentary, 2 Inside Information, Insider Dealing, Unlawful Disclosure of Inside Information, and Market Manipulation, Art.14: Prohibition of insider dealing and of unlawful disclosure of inside information

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: 14 July 2024

Improper disclosure — Insider dealing — Market abuse — Market Abuse Directive (MAD) — Regulated activities

This chapter discusses some prohibitions as laid out by Article 14. Article 14(a)–(c) prohibits three forms of behaviour: insider dealing according to Article 8(1); tipping according to Article 8(2); and unlawful disclosure according to Article 10, respectively. Each of these provisions defines the specific behaviour and the effect of Article 14. If behaviour is deemed to fall within one of the three categories mentioned in Article 14(a)–(c), the behaviour is deemed illegal and must be sanctioned by national law. Article 14 is supplemented by Article 15, which serves to prohibit market manipulation according to Article 12. This Article is further supplemented by Article 30 on administrative sanctions and administrative measures.

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