EU

Recent developments on the market abuse directive

Mattias Levin, Research Fellow. Centre for European Policy Studies (CEPS)

The market abuse directive is, together with the prospectus directive, the first directive released under the new Lamfalussy procedure. However, instead of fanfare, market participants, who felt they had not been properly consulted and the directive as a result was flawed, greeted it with criticism. To compound matters, the directive has also been caught in the ongoing dispute between the European institutions concerning their respective powers under the Lamfalussy procedure. This article will take stock of recent developments affecting the prospects of this draft directive.