First achievement of the Lamfalussy Process: A robust European regime against market abuse.

0 Comments | M2 Presswire, January, 2004

M2 PRESSWIRE-8 January 2004-UK Government: First achievement of the Lamfalussy Process: A robust European regime against market abuse(C)1994-2004 M2 COMMUNICATIONS LTD RDATE:01082004 CESR welcomes the adoption by the European Commission of the first set of level 2 legislation to establish Europe's new framework for promoting market integrity under the Directive 2003/6/EC on insider dealing and market manipulation (the Market Abuse Directive).

The Market Abuse Directive is the first directive to be agreed using the Lamfalussy process for regulating Europe's capital markets and on which CESR has provided technical advice to assist the Commission to prepare the implementing measures for the Directive. CESR Chairman, Arthur Docters van Leeuwen, commented: "The...