Inside information, insider dealing, unlawful disclosure of inside information, and market manipulation

Alternative Title

Market manipulation: Commentary to Article 12 of the EU Market Abuse Regulation

Publication Type

Book Chapter

Publication Date

3-2022

Abstract

This chapter looks at the Market Abuse Regulation’s definition of inside information. Pursuant to Article 7, inside information is information of a precise nature, concerning directly or indirectly one or more issuers or one or more financial instruments, which has not been made public yet and which, if it were made public, would be likely to have a significant effect on the price of the financial instruments it refers to or on that of the related derivative securities. This chapter embarks on an analysis of Article 7’s history and content, examining the constitutive elements of the Article’s definition of inside information and discussing some of the innovations introduced by the Market Abuse Regulation, such as the adoption of a unitary notion of inside information and the explicit reference to the fact that intermediate stages in a protracted process may qualify as inside information.

Keywords

Market abuse, Market Abuse Regulation, European Union

Discipline

Commercial Law | European Law | Finance and Financial Management

Research Areas

Corporate, Finance and Securities Law

Publication

Market abuse regulation: Commentary and annotated guide

Editor

Marco Ventoruzzo & Sebastian Mock

ISBN

9780198871095

Identifier

10.1093/law/9780198871095.001

Publisher

Oxford University Press

City or Country

Oxford

Additional URL

https://doi.org/10.1093/law/9780198871095.001

Link to Full Text

Share

COinS