The Maastricht Journal of European and Comparative Law, Vol. 19, pp. 195-205, 2012
11 Pages Posted: 10 Apr 2012
Date Written: April 10, 2012
This paper discusses whether the forthcoming reform of market abuse law, as proposed by the EU Commission in October 2011, may be seen as a ‘revolution’ or a mere ‘evolution’. Section 1 explains the topicality of regulating market abuse (ie insider dealing and market manipulation), both in the US and the EU. Section 2 analyses to what extent the transformation of the current Market Abuse Directive into a Regulation and the new Directive on criminal sanctions may be regarded as ‘revolutionary’. Section 3 deals with the substantive changes which seem to be more ‘evolutionary’ in updating and improving some aspects of the previous law. In section 4 we briefly discuss our main concerns with the proposed reform.
Keywords: market abuse, insider dealing, market manipulation, market abuse directive, securities regulation
JEL Classification: G38, K22, K42
Suggested Citation: Suggested Citation
Siems, Mathias M. and Nelemans, Matthijs, The Reform of the EU Market Abuse Law: Revolution or Evolution? (April 10, 2012). The Maastricht Journal of European and Comparative Law, Vol. 19, pp. 195-205, 2012. Available at SSRN: https://ssrn.com/abstract=2037727