Financial services: Commission launches call for evidence on review of Market Abuse Directive

The European Commission launched a call for evidence on its review of the application of the Market Abuse Directive, including some preliminary findings and proposals to improve and simplify this Directive. The Market Abuse Directive aims to ensure that behaviour such as insider dealing and market manipulation is properly deterred and sanctioned. The review is a key element of the Commission's policy to strengthen the EU regulatory framework for financial services set out in the Communication on 'Driving European recovery' and of its action plan to reduce administrative burdens on EU companies by 25% by the end of 2012.