CESR: Responses to consultation on Draft Guidance on Market Abuse Directive

22 February 2007

CESR published the responses received on its 2nd set of Draft Guidance on the Operation of the Market Abuse Directive. Following the first two years of experience gained under the new market abuse regime, CESR is of the view that this is the right time to provide further guidance to market participants regarding common understandings developed amongst supervisors with the intention of achieving a convergent application of the legal requirements on a day-to-day basis.

This work is intended to compliment the ‘Call for Evidence’ on the evaluation of the supervisory functioning of the EU market abuse regime.

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