On 3 July 2016, the provisions of the Market Abuse Regulation and the new Market Abuse Directive will become applicable. The regulation will directly apply to the Member States of the European Economic Area.
On 19 April 2016, the Dutch legislator published its legislative proposal for an act to implement the new directive and some provisions of the regulation. The existing Market Abuse Directive from 2003 and, the implementing Directives published by the European Commission under this Directive, and the current Dutch laws and regulations with respect to market abuse will be repealed as of 3 July 2016.
In this update, we address the most important changes of the legislative proposal:
2. Territorial scope
3. The four core prohibitions of the MAR
4. Market soundings
5. Publication of inside information
6. Managers' transactions
7. Insider lists
8. Insider trading policy
9. Internal procedures for financial institutions
10. Supervision and sanctions
11. Delegated acts and timing
Please click here for the full update.