Criminalization of Market Actor Behavior as Regulatory Tool: The Implementation in the Netherlands of the EU Directive 2014/57 ('MAD II') on Criminal Sanctions for Insider Dealing and Market Manipulation, and its Effects on the Cooperation between the Dutch Public Prosecutors Office (OM) and the Dutch Authority for Financial Markets (AFM)

49 Pages Posted: 31 Mar 2015

See all articles by Ernst van Bemmelen van Gent

Ernst van Bemmelen van Gent

IUS Commune Research School; Utrecht University - Faculty of Law; Bynkershoek Research Center on Legal Education; The Hague University - LLB Program Dutch Law (HBO-Rechten)

Date Written: March 12, 2015

Abstract

This article argues that criminal sanctions imposed by law enforcement bodies are less attractive than administrative sanctions by regulatory bodies that are embedded in the innovative traditions of regulatory science. However, it is observed that due to the mechanics of European law EU Directive 2014/57 has to be implemented in among others The Netherlands and consequently, the existing cooperation between law enforcer OM and regulatory body AFM can continue on the same basis as it operates prior to the implementation of this directive.

Keywords: regulatory state, criminal sanctions, administrative sanctions, fundamental rights, EU Directive 2014/57

JEL Classification: K23, K42, K00

Suggested Citation

van Bemmelen van Gent, Ernst, Criminalization of Market Actor Behavior as Regulatory Tool: The Implementation in the Netherlands of the EU Directive 2014/57 ('MAD II') on Criminal Sanctions for Insider Dealing and Market Manipulation, and its Effects on the Cooperation between the Dutch Public Prosecutors Office (OM) and the Dutch Authority for Financial Markets (AFM) (March 12, 2015). Available at SSRN: https://ssrn.com/abstract=2586983 or http://dx.doi.org/10.2139/ssrn.2586983

Ernst Van Bemmelen van Gent (Contact Author)

IUS Commune Research School ( email )

Netherlands

Utrecht University - Faculty of Law ( email )

Janskerkhof 3
Utrecht, 3512 BK
Netherlands

Bynkershoek Research Center on Legal Education ( email )

Groot Hertoginnelaan 3
The Hague, 2517 EA
Netherlands

The Hague University - LLB Program Dutch Law (HBO-Rechten) ( email )

Johana Westerdijkplein 75
The Hague, Zuid Holland 2521 EN
Netherlands

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