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Part B Commentary, 7 Final Provisions, Art.37: Repeal of Directive 2003/6/EC and its implementing measures

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: 28 May 2024

Market abuse — Market Abuse Directive (MAD) — Regulated activities

This chapter briefly comments on Article 37. It shows that Article 37(1) repeals the (former) Market Abuse Directive (2003/6/EC) and the three Commission directives for its implementation. The Buy-back Programmes and Stabilisation Regulation 2273/2003/EC are also repealed by Article 37(1). In contrast to the (former) Market Abuse Directive (2003/6/EC), the safe harbour for buy-back-programmes and stabilization measures are not governed by a separate regulation but are integrated in the Market Abuse Regulation in Article 5. Pursuant to Article 37(2), all references to the (former) Market Abuse Directive (2003/6/EC) shall be construed as references to the Market Abuse Regulation in accordance with its Annex II.

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