Publications regarding the Market Abuse Directive and the Market Abuse Regulation
Publications regarding the Market Abuse Directive and the Market Abuse Regulation
The Minister of Finance has published a draft bill, explanatory memorandum, an advice report from The Council of State (Raad van State) and a further report (links available in Dutch only) to inform the House of Representatives on the implementation of the Market Abuse Directive (2014/46/EU) and the Market Abuse Regulation(EU/596/2014).
The draft bill amends, amongst other acts, the Dutch Act on Financial Supervision. One of the consequences of this implementation is that the maximum amount for fines that can be imposed by DNB/ AFM for violations of the Dutch Act on Financial Supervision will be increased. Another consequence is that final decisions to impose administrative sanctions, other than decisions imposing fines and periodic penalty payments, should be made public.
The Market Abuse Regulation enters into force on 3 July 2016 and the Market Abuse Directive should be implemented by the same date.