The European Parliament has published a press release stating that it has voted to adopt the proposed Directive on criminal sanctions for insider dealing and market manipulation (CSMAD).
The European Commission has also published a press release welcoming the Parliament’s adoption of the rules, together with a set of frequently asked questions.
The Council of the EU will now formally adopt the text of the CSMAD proposal at a future meeting. The Directive is expected to be published in the Official Journal of the EU (OJ) in June 2014. Member States will have two years to implement the Directive after publication in the OJ.
View Financial market manipulators may face at least four years in jail, 4 February 2014
View Statement by Vice-President Reding and Commissioner Barnier on European Parliament’s vote to approve criminal sanctions for market abuse Directive, 4 February 2014
View Directive on criminal sanctions for market abuse – frequently asked questions, 4 February 2014