LAFONTA v AUTORITÉ DES MARCHÉS FINANCIERS

[2015] Lloyd's Rep FC Plus 27

COURT OF JUSTICE OF THE EUROPEAN UNION (SECOND CHAMBER)

Before R Silva de Lapuerta, President of the Chamber, K Lenaerts, Vice-President of the court (acting as a Judge of the Second Chamber), J-C Bonichot, Judge A Arabadjiev, Judge JL da Cruz Vilaça (Rapporteur), M Wathelet, Advocate General, and V Tourrès, Registrar

Financial services - Market abuse - Definition of inside information - Precise information - Significance of its potential effect on the prices of financial instruments - No need to infer increase or decrease in price - Directive 2003/6/EC - Commission Directive 2003/124/EC