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The Review of the Market Abuse Regime in Europe

12 Pages Posted: 2 Mar 2010  

Tom Van Dyck

Catholic University of Leuven (KUL)

Date Written: February 12, 2010


This Discussion Paper attempts to summarize the current status of the review of the Market Abuse Directive (MAD) framework. Five important elements that are likely to form the core of the review are identified: (i) insider lists, (ii) transaction reporting, (iii) the scope of the MAD (and its extension to MTFs), (iv) the delay of the disclosure of information and (v) privacy law concerns. The Discussion Paper will also consider certain key issues that are not addressed, such as the problematic definition of “inside information”, the divergence of sanctions and, ultimately, the need for a more centralized enforcement and supervision mechanism.

Keywords: Market Abuse, Inside Information, Inside Trading

JEL Classification: G20

Suggested Citation

Van Dyck, Tom, The Review of the Market Abuse Regime in Europe (February 12, 2010). Available at SSRN: or

Tom Van Dyck (Contact Author)

Catholic University of Leuven (KUL) ( email )

Tiensestraat 41
Leuven, B-3000
+3225335245 (Phone)


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