Database on German and European Economic Law

 Regulation (EU) No 596/2014

I. Description

The  Market Abuse Regulation ensures regulation keeps pace with market developments such as the growth of new trading platforms, over the counter (OTC) trading and new technology such as high frequency trading (HFT), strengthens the fight against  market abuse across commodity and related derivative markets, explicitly bans the manipulation of benchmarks (such as LIBOR), reinforces the investigative and administrative sanctioning powers of regulators and ensures a single rulebook while reducing, where possible, the administrative burdens on SME issuers.

The  Market Abuse Regulation shall enter into application in July 2016.

The Regulation is accompanied by Directive   2014/57/EU ( Market Abuse Directive).

Quelle: Pressemitteilung der Kommission

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II. General Information

Title

Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on  market abuse ( market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC

Abbreviations
Market Abuse Regulation, MAR
Status
Existing
Regulation
(EU) No 596/2014
Source
O.J. EU No L (Legislation), Edition 173, Year 2014, p.1
Adoption
09/10/2013
Promulgation
06/12/2014
Character
Lamfalussy Framework Act
Implementation
Legal Basis
Art. 114 AEUV
Legislative Procedure
Codecision procedure

III. Versions and Legislative History

1. Versions

Titel
Allg. Daten
Textfassung

Original Text Market Abuse Regulation, MAR:
Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on  market abuse ( market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC

  (EU) No 596/2014

Beschluss:
09/10/2013 (A)
Verkuendung:
06/12/2014 (P)
(A) Adoption | (P) Promulgation

2. Legislative History

Datum
Typ / Titel
Textfassungen
04/16/2014
Approval by the European Parliament
Signature by EP and Council PE-CONS/2013/78
09/10/2013
Position and Approval of the European Parliament
TA/2013/342/P7
09/10/2013
Commission position
zu den Änderungsanträgen EP 1. Lesung
07/25/2012
Proposal
COM(2012) 421 final
03/28/2012
Opinion of the European Economic and Social Committee
ABL 2012/C 181/64
03/22/2012
Opinion of the European Central Bank
ABL 2012/C 161/3
02/10/2012
Opinion of the European Data Protection Supervisor
ABL 2012/C 177/1
10/20/2011
Proposal
COM(2011) 651 final

3. Comments

Datum
Stellungnahme
Textfassungen
05/04/2012
Deutscher Anwaltverein (DAV)
Comment on: Kommissionsvorschlag
12/16/2011
Der Deutsche Bundesrat (BR Drs. 647/11(B))
Comment on: Kommissionsvorschlag

4. Legal Impact

Auswirkungstyp
Richtlinie
Textfassungen
Repeal
  Directive 2004/72/EC
Repeal
  Directive 2003/124/EC
Repeal
  Directive 2003/125/EC
Repeal
  Regulation (EC) No 2273/2003
Repeal
  Directive 2003/6/EC

2. CESR Level 2

Durchführungsverordnung (EU) Nr. 2016/347 auf Basis der VO (EU) 596/2014
CESR/

V. CESR / ESMA Announcements (Level 3)

1/2017
Guidelines: Information relating to commodity derivatives markets or related spot markets for the purpose of the definition of inside information on commodity derivatives
ESMA/2016/1480
9/2016
Final Report
2016/1412
3/2016
Consultation Paper
2016/444
10/2016
Guidelines Delay in the disclosure of inside information
ESMA/2016/1478
10/2016
Guidelines Persons receiving market soundings
ESMA/2016/1477
10/2015
Guidelines on Alternative Performance Measures
ESMA/2015/1415

VI. Umsetzung in den Mitgliedstaaten

1. Implementation in Germany

(A) Adoption | (P) Promulgation

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Legislative Act Status

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Overview

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