EAPB Position on CESR call for evidence on Market Abuse

07 March 2003

The European Association of Public Banks (EAPB) claims that at present various but not consistent legal texts of the directive concerning the categories of persons subject to a duty of disclosure of transactions exist in the Member States. On article 6 (4), the association therefore calls for clarification by CESR that the directive only covers 'shares, or derivatives or other financial instruments linked to them'.

EAPB argues that concerning other financial instruments, there is practically no possibility to benefit from insider information- for example in case of investment in bonds or mortgage bonds.

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