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VIII Market Abuse

From: EU Securities and Financial Markets Regulation (3rd Edition)

Niamh Moloney

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2022. All Rights Reserved.date: 09 December 2022

Market abuse — Market Abuse Directive (MAD) — Regulated activities — European Securities and Markets Authority (ESMA) — Insider dealing — Misuse of information
This Chapter covers the EU regime which governs the prohibition of market abuse. In common with regulatory regimes internationally, the regime has expanded beyond an original prohibition on insider dealing to include prohibitions on a range of different market abuses, well illustrated by the crisis-era extension of the regime to include abuses related to high frequency trading and the abuse of benchmarks. It deploys an array of regulatory mechanisms, including prohibitions and disclosure-related techniques. The 2003 Market Abuse Directive (the 2003 MAD),1 which...
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