Call for evidence reviews MAD and increases scope to include short selling
BRUSSELS - The European Commission has published a call for evidence on its review of the Market Abuse Directive (MAD), with some preliminary proposals to simplify or improve the directive.
The analysis of the call for evidence focuses on three areas - the scope of the MAD; insider information; and market manipulation. The paper also touches on short selling, which is not explicitly addressed by the original directive's mandate.
The document forms part of the European Union's (EU) regulatory framework for financial services set out in the Commission's document 'Driving European recovery', and also in its action plan to reduce EU companies' administrative burdens by 25% before 2013.
The call for evidence lists a number of elements within the directive for revision. These include: the ability of listed issuers to delay disclosure of inside information; the scope of the MAD to cover different markets and financial products; insider information disclosure by commodity derivatives issuers; access to telephone records and other data; and requirements for insider lists and transaction reporting for issuer managers.
A deadline of June 10, 2009 has been set for comments. The call for evidence can be viewed here.
More on Regulation
Banker behaviour remains in the spotlight after recent rule proposals
Benefits depend on "safe space" for mistakes and questions, seminar hears
Graduates must be warned of the serious risks of market abuse
New office will use data-driven tools to assist the US regulator
Sign up for Risk.net email alerts
Watch highlights of this year's London conference
Operational risk and the challenges of defining and dealing with conduct risk
Watch discussions and speakers from our North America conference
In the February 2014 editorial video, OpRisk's latest industry survey finds room for improvement in risk management
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.