Database on German and European Economic Law

 Directive 2003/6/EC

I. Description

Since the objective of the proposed action, namely to prevent market abuse in the form of insider dealing and market manipulation, cannot be sufficiently  achieved by the Member States and can therefore, by reason of the scale and effects of the measures, be better achieved at Community level, the Community may adopt measures, in accordance with the principle of subsidiarity as set out in Article 5 of the Treaty. In accordance with the
principle of proportionality, as set out in that Article, this Directive does not go beyond what is necessary in order to achieve that objective.

II. General Information

Title

Directive 2003/6/EC of the European Parliament and of the Council of 28 January 2003 on insider dealing and market manipulation

Abbreviations
market abuse
Status
Repealed
Directive
2003/6/EC
Source
O.J. EC No L (Legislation), Edition 96, Year 2003, p.16-25
Adoption
01/28/2003
Promulgation
04/12/2003
Character
Lamfalussy Framework Act
Legal Basis
Art. 95 EC
Legislative Procedure
Codecision procedure
Background

III. Versions and Legislative History

1. Versions

Titel
Allg. Daten
Textfassung

Original Text market abuse:
Directive 2003/6/EC of the European Parliament and of the Council of 28 January 2003 on insider dealing and market manipulation

  2003/6/EC

Beschluss:
01/28/2003 (A)
Verkuendung:
04/12/2003 (P)
(A) Adoption | (P) Promulgation

2. Legislative History

Datum
Typ / Titel
Textfassungen
12/11/2002
Proposal
COM (2002) 724 final
10/24/2002
Proposal
ABL. EC No. C 300, p. 542
07/19/2002
Proposal
ABL. EC No. C 228, p. 19
04/03/2002
Opinion of the European Economic and Social Committee
ABL. EC No. C 80, p. 61
03/14/2002
Report of the European Parliament - 1st reading
ABL. EC No. C 47, p. 511
11/22/2001
Opinion of the European Central Bank
ABL. EC No. C 24, p. 8
06/01/2001
Proposal
ABL EC No. C. 240, p. 265

3. Legal Impact

Auswirkungstyp
Richtlinie
Textfassungen
Amendment
  Directive 2001/34/EC
Repeal
  Directive 89/592/EEC

4. CESR Level 2

CESR and ERGEG advice to the European Commission in the context of the Third Energy Package Response to Question F.20 – Market Abuse
CESR/08-739
10/2008
Feedback statement
08-754

IV. CESR / ESMA Announcements (Level 3)

5/2009
CESR´s Market Abuse Directive - Level 3 – third set of CESR guidance and information on the common operation of the Directive of the market
CESR/09-219
5/2009
Feedback statement
09-220
10/2008
2nd Public Consultation
08-717
5/2008
1st Public Consultation
08-274
11/2008
Open Hearing
08-925
7/2007
CESR´s Market Abuse Directive - Level 3 – second set of CESR guidance and information on the common operation of the Directive to the market
CESR/06-562b
7/2007
Feedback statement
07-402
11/2006
Public Consultation
06-562
4/2005
CESR´s Market Abuse Directive - Level 3 – first set of CESR guidance and information on the common operation of the Directive
CESR/04-505b

V. Umsetzung in den Mitgliedstaaten

1. Implementation in Germany

10/28/2004 (A)

10/29/2004 (P)

(A) Adoption | (P) Promulgation

2. Implementation in other Member States

Übersicht zu den Umsetzungsakten im Vereinigten Königreich

Financial Conduct Authority (FCA)

Übersicht zu den Umsetzungsakten in Frankreich

Autorité des marchés financiers (AMF)

Übersicht zu den Umsetzungsakten in Italien

Übersicht zu den Umsetzungsakten in Österreich

Finanzmarktaufsichtsbehörde (FMA)

Übersicht zu den Umsetzungsakten in Portugal

Ministério das Finanças

Finanssivalvonta - Financial Supervision Authority

Übersicht zu den Umsetzungsakten in Finnland

Legend

Legislative Act Status

Documents

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Overview

I. Description
II. General Information
III. Versions and Legislative History
1. Versions
2. Legislative History
3. Legal Impact
4. CESR Level 2
IV. CESR / ESMA Announcements (Level 3)
V. Umsetzung in den Mitgliedstaaten
1. Implementation in Germany
2. Implementation in other Member States