Regulation No 596/2014 on market abuse (MAR) has the objective of increasing market integrity and investor protection. It replaces the previous Market Abuse Directive (MAD) and provides a pan-European regime to prevent and detect market abuse, market manipulation and insider dealing.
Level 1:
Level 2:
Implementing measures: Commission delegated and implementing acts, including technical standards (RTS and ITS).
Level 3:Â
ESMA Q&As on MAR and ESMA Guidelines on:
- Delay in the disclosure of inside information
- Commodity derivatives
- Persons receiving market soundings
The Market Abuse Directive (CS MAD):Â
Directive 2014/57/EU on criminal sanctions for market abuse, lays down criminal sanctions for abuses including market manipulation, insider dealing and unlawful disclosure of inside information.
ESMA also publish Q&As on the common operation of the Market Abuse Directive. Further ESMA guidance on accepted market practices (AMPs) can be found here.