Main Initiatives of the European Union in Combating Market Abuse

In the European Union combating insider violations and market manipulation is one of the key tasks in the domain of legal regulation of the finance market. The EU takes a systems approach to the solution of this problem, as the development of the legal regulation in this field goes the way of enhanc...

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Autor principal:	R. A. Kasyanov
Formato:	article
Lenguaje:	EN RU
Publicado:	MGIMO University Press 2014
Materias:	the european union european financial markets market abuse insider dealing market manipulation International relations JZ2-6530
Acceso en línea:	https://doaj.org/article/e484fee09a884ffcb83290bad718973d
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spelling	oai:doaj.org-article:e484fee09a884ffcb83290bad718973d2021-11-23T14:50:57ZMain Initiatives of the European Union in Combating Market Abuse2071-81602541-909910.24833/2071-8160-2014-4-37-244-252https://doaj.org/article/e484fee09a884ffcb83290bad718973d2014-08-01T00:00:00Zhttps://www.vestnik.mgimo.ru/jour/article/view/181https://doaj.org/toc/2071-8160https://doaj.org/toc/2541-9099In the European Union combating insider violations and market manipulation is one of the key tasks in the domain of legal regulation of the finance market. The EU takes a systems approach to the solution of this problem, as the development of the legal regulation in this field goes the way of enhancing a respective complex of legal norms. In 7 989 the first stage of the development of the EU legal base in the area of combating insider violations was undertaken. In the mentioned year a Council Directive 89/592/EEC on insider dealing was adopted which created the basis for the legal regulation in this field. The document, despite its progressive nature for that time, soon became outdated and no longer could meet the demands of modern finance markets. In 2003 the European Union decided to enhance its legal base and adopted a new Directive 2003/6/ EC of the European Parliament and of the Council on insider dealing and market manipulation (market abuse). This secondary law act, which is still in force, has a much wider scope because its key notion "market abuse" comprises two forms of unlawful actions: insider dealing and market manipulation. In 20 7 7 drafts of new regulatory acts were elaborated - a regulation on insider dealing and market manipulation (market abuse) and a directive on criminal sanctions for insider dealing and market abuse. Should these acts be adopted, the third stage of development of the legal base in this area will begin. This article is aimed at analysing specific features of the second-stage development of the EU legal base and attempting to characterise the main directions of the upcoming reform.R. A. KasyanovMGIMO University Pressarticlethe european unioneuropean financial marketsmarket abuseinsider dealingmarket manipulationInternational relationsJZ2-6530ENRUVestnik MGIMO-Universiteta, Vol 0, Iss 4(37), Pp 244-252 (2014)
institution	DOAJ
collection	DOAJ
language	EN RU
topic	the european union european financial markets market abuse insider dealing market manipulation International relations JZ2-6530
spellingShingle	the european union european financial markets market abuse insider dealing market manipulation International relations JZ2-6530 R. A. Kasyanov Main Initiatives of the European Union in Combating Market Abuse
description	In the European Union combating insider violations and market manipulation is one of the key tasks in the domain of legal regulation of the finance market. The EU takes a systems approach to the solution of this problem, as the development of the legal regulation in this field goes the way of enhancing a respective complex of legal norms. In 7 989 the first stage of the development of the EU legal base in the area of combating insider violations was undertaken. In the mentioned year a Council Directive 89/592/EEC on insider dealing was adopted which created the basis for the legal regulation in this field. The document, despite its progressive nature for that time, soon became outdated and no longer could meet the demands of modern finance markets. In 2003 the European Union decided to enhance its legal base and adopted a new Directive 2003/6/ EC of the European Parliament and of the Council on insider dealing and market manipulation (market abuse). This secondary law act, which is still in force, has a much wider scope because its key notion "market abuse" comprises two forms of unlawful actions: insider dealing and market manipulation. In 20 7 7 drafts of new regulatory acts were elaborated - a regulation on insider dealing and market manipulation (market abuse) and a directive on criminal sanctions for insider dealing and market abuse. Should these acts be adopted, the third stage of development of the legal base in this area will begin. This article is aimed at analysing specific features of the second-stage development of the EU legal base and attempting to characterise the main directions of the upcoming reform.
format	article
author	R. A. Kasyanov
author_facet	R. A. Kasyanov
author_sort	R. A. Kasyanov
title	Main Initiatives of the European Union in Combating Market Abuse
title_short	Main Initiatives of the European Union in Combating Market Abuse
title_full	Main Initiatives of the European Union in Combating Market Abuse
title_fullStr	Main Initiatives of the European Union in Combating Market Abuse
title_full_unstemmed	Main Initiatives of the European Union in Combating Market Abuse
title_sort	main initiatives of the european union in combating market abuse
publisher	MGIMO University Press
publishDate	2014
url	https://doaj.org/article/e484fee09a884ffcb83290bad718973d
work_keys_str_mv	AT rakasyanov maininitiativesoftheeuropeanunionincombatingmarketabuse
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Main Initiatives of the European Union in Combating Market Abuse

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