The Council of the EU has issued a press release stating that it has adopted the Market Abuse Regulation (MAR) and the Directive on criminal sanctions for insider dealing and market manipulation (CSMAD). Together the MAR and the CSMAD comprise MAD II.

The Council’s adoption of the legislation followed agreement reached with the European Parliament at first reading. The adoption took place at a meeting of the Council in its configuration as the Foreign Affairs Council, without discussion.

In a press release issued by the European Commission, it states that after signature of the MAR and the CSMAD by the Presidents of the European Parliament and the Council and their publication in the Official Journal, expected in June, there will be a 24-month period for the adoption of implementing measures by the Commission concerning the MAR and for Member States to implement the CSMAD into national law. However, the UK is not adopting the CSMAD.

View Council adopts strengthened rules on market abuse, 14 April 2014

View EU enacts criminal sanctions to defend market integrity, 14 April 2014