12 Pages Posted: 2 Mar 2010
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: Suggested Citation