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The new market abuse regime in Greece: A step towards increased market transparency or a new source of confusion?

The new market abuse regime in Greece: A step towards increased market transparency or a new... The Greek insider trading and market manipulation (market abuse) regime is in the process of transformation by the new Code on Capital Market, which internalises the provisions of the 2003 Market Abuse Directive. The new market abuse prohibition follows an effect‐oriented approach, which, in conjunction with the application of strict administrative law sanctions, is likely to expand the scope of liability. Though, however, the new market abuse regime will facilitate the prosecution of insiders and manipulators, a number of issues are left open to discussion. Consequently, supervisory authorities and courts are required to display particular care in the interpretation and application of the new regime in order to ensure effective enforcement. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Financial Regulation and Compliance Emerald Publishing

The new market abuse regime in Greece: A step towards increased market transparency or a new source of confusion?

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Publisher
Emerald Publishing
Copyright
Copyright © 2004 Emerald Group Publishing Limited. All rights reserved.
ISSN
1358-1988
DOI
10.1108/13581980410810867
Publisher site
See Article on Publisher Site

Abstract

The Greek insider trading and market manipulation (market abuse) regime is in the process of transformation by the new Code on Capital Market, which internalises the provisions of the 2003 Market Abuse Directive. The new market abuse prohibition follows an effect‐oriented approach, which, in conjunction with the application of strict administrative law sanctions, is likely to expand the scope of liability. Though, however, the new market abuse regime will facilitate the prosecution of insiders and manipulators, a number of issues are left open to discussion. Consequently, supervisory authorities and courts are required to display particular care in the interpretation and application of the new regime in order to ensure effective enforcement.

Journal

Journal of Financial Regulation and ComplianceEmerald Publishing

Published: Dec 1, 2004

Keywords: Market abuse; Insider trading; Manipulation; Enforcement; Greece

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