| Author (Corporate) | European Commission: Press and Communication Service |
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| Series Title | Press Release |
| Series Details | IP/01/758 (30.5.01) |
| Publication Date | 30/05/2001 |
| Content Type | News |
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On 30 May 2001, the European Commission presented a proposal for a Directive on insider dealing and market manipulation ('market abuse'). The proposal would increase standards for market integrity in the securities field throughout the EU. It is based on the principles of transparency and equal treatment of market participants and would require closer cooperation and a higher degree of exchange of information between national competent authorities than currently exists. The proposal would reduce potential inconsistencies, confusion and loopholes by establishing a basic framework for the allocation of responsibilities, enforcement and cooperation within the Community. The initiative is one of the centre pieces of the Financial Services Action Plan, and the drive to create an integrated services market by 2003. It is one of the first two proposals for Directives under the new 'Lamfalussy' Stockholm format distinguishing framework principles from implementing technical details (see also IP/01/759 on prospectuses). The Commission intends to adopt technical measures to complement the framework principles established by the Directive after consulting Member States' representatives in a Securities Committee. |
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| Source Link | Link to Main Source http://europa.eu/rapid/pressReleasesAction.do?reference=IP/01/758&format=HTML&rapid=0&language=EN&guiLanguage=en |
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| Subject Categories | Business and Industry, Internal Markets |
| Countries / Regions | Europe |
