On 9 July 2015, the Dutch Ministry of Finance published a consultation paper and a first draft of the bill for the Act implementing the Market Abuse Regulation (No 596/2014) (MAR) and the Directive on criminal sanctions for insider dealing and market manipulation (No 2014/57/EU) (CSMAD) (Wet implementatie verordening en richtlijn marktmisbruik, the Bill).

The current market abuse rules in the Netherlands are laid down in the Act on the Financial Supervision (Wet op het financieel toezicht, AFS). The proposal is to repeal the market abuse provisions currently laid down in the AFS because MAR will have direct effect. The CSMAD complements MAR by introducing minimum rules on criminal offences and criminal sanctions for market abuse, which rules will be transposed in the Netherlands by amending the AFS through the Bill.

View the Bill and consultation paper. The deadline for comments on the consultation paper is 10 August 2015.