EuropeanIssuers Market Abuse compromise amendments

01 October 2012

EuropeanIssuers has sent comments on the compromise amendments to the proposals on insider dealing and market manipulation to MEPs on the European Parliament's ECON Committee. The comments express concerns about lack of clarity, timescales and feasibility of some of the proposals.

EuropeanIssuers supports the compromise amendment which excludes that communication of inside information from the potential target to the potential bidder and the use of inside information regarding the purpose of launching a takeover represent per se insider dealing.

EuropeanIssuers supports the compromise amendment which allows Member States to maintain accepted market practices when they have demonstrated their value for market efficiency without impairing market integrity.

EuropeanIssuers opposes the obligation for persons on insider lists to inform authorities on any potential insider dealing or market abuse. Such a duty would lead to severe tensions and a climate of mistrust in highly sensitive proceedings like M&A transactions.

Press release with link to position paper

 

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