Commission adopts first implementing measures on Market Abuse

07 January 2004

The European Commission has adopted three implementing measures related to the market Abuse Directive. These implementing measures cover among others detailed criteria for determining what constitutes inside information, which non exhaustive factors have to be examined when assessing possible market manipulation, and provisions on how and when issuers must disclose inside information.

They also set out standards for the fair presentation of investment recommendations. Finally, they set out conditions for benefiting from exemptions from the prohibitions of market abuse in the case of share buy-back programmes and price stabilisation of financial instruments.

Press release

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