Activities of Arlene McCARTHY related to 2011/0295(COD)
Plenary speeches (2)
Insider dealing and market manipulation (market abuse) (debate)
Insider dealing and market manipulation (market abuse) (debate)
Reports (1)
REPORT on the proposal for a regulation of the European Parliament and of the Council on insider dealing and market manipulation (market abuse) PDF (701 KB) DOC (586 KB)
Amendments (14)
Amendment 114 #
Proposal for a regulation
Recital 31
Recital 31
(31) Existing telephonerecordings of telephone conversations and data traffic records from investment firms executing transactions, and existing telephone and data traffic records from telecommunication operators constitute crucial, and sometimes the only, evidence to detect and prove the existence of insider dealing and market manipulation. Telephone and data traffic records may establish the identity of a person responsible for the dissemination of false or misleading information, that persons have been in contact at a certain time, and that a relationship exists between two or more people. In order to introduce a level playing field in the Union in relation to the access by competent authorities to telephone and existing data traffic records held by a telecommunication operator or the existing recordings of telephone conversations and data traffic held by an investment firm, competent authorities should be able to require existing telephone and existing data traffic records held by a telecommunication operator orand existing recordings of telephone conversations as well as data traffic held by an investment firm, where a reasonable suspicion exists that such records related to the subject- matter of the inspection may be relevant to prove insider dealing or market manipulation as defined in [new MAD] in violation of this Regulation or Directive [new MAD]. TAccess to telephone and data traffic records doheld by a telecommunications operator does not encompass the content of such recordsthe communication.
Amendment 188 #
Proposal for a regulation
Article 7 – paragraph 3 a (new)
Article 7 – paragraph 3 a (new)
3 a. The use or onward disclosure of the recommendations or inducements referred to in paragraph 3 amounts to insider dealing when the person using or disclosing the recommendation or inducement knows or ought to know, that it is based on inside information.
Amendment 229 #
Proposal for a regulation
Article 8 – paragraph 2 – introductory part
Article 8 – paragraph 2 – introductory part
2. For the purposes of this Regulation, an attempt to engage in market manipulation shall comprise the following, regardless of whether it has the intended net effect:
Amendment 244 #
Proposal for a regulation
Article 8 – paragraph 3 – point c – introductory part
Article 8 – paragraph 3 – point c – introductory part
(c) the sending of orders to a trading venue by any means of algorithmic trading, including algorithmic and high frequency trading, without an intention to trade but for the purpose of intentionally distorting the markets, including:
Amendment 247 #
Proposal for a regulation
Article 8 – paragraph 3 – point c – indent 1
Article 8 – paragraph 3 – point c – indent 1
– disrupting or delaying the functioning of the trading system of the trading venue;, or which is likely to do so; and/or
Amendment 249 #
Proposal for a regulation
Article 8 – paragraph 3 – point c – indent 2
Article 8 – paragraph 3 – point c – indent 2
– making it more difficult for other persons to identify genuine orders on the trading system of the trading venue; or which is likely to do so;
Amendment 251 #
Proposal for a regulation
Article 8 – paragraph 3 – point c – indent 3
Article 8 – paragraph 3 – point c – indent 3
– creating or which is likely to create, a false or misleading impression about the supply of or demand for a financial instrument.
Amendment 254 #
Proposal for a regulation
Article 8 – paragraph 4a (new)
Article 8 – paragraph 4a (new)
4a. In order to ensure orderly markets, market participants shall disclose additional information to the trading venue and the competent authority, in order to facilitate their ability to detect abusive behaviour and conduct an investigation. This information should be comprised of the following: a) who stands behind an order; b) the means of execution (manual or electronic), and; c) which strategy was used for the execution;
Amendment 332 #
Proposal for a regulation
Article 17 – paragraph 2 – point a
Article 17 – paragraph 2 – point a
(a) requesthave access to any document in any form, and to receive or take a copy thereof;
Amendment 338 #
Proposal for a regulation
Article 17 – paragraph 2 – point f
Article 17 – paragraph 2 – point f
(f) require existing telephone and existing data traffic records held by a telecommunication operator or by an investment firm, where a reasonable suspicion exists that such records related to the subject-matter of the inspection may be relevant to prove insider dealing or market manipulation as defined in[new MAD] in violation of this Regulation or Directive [new MAD]; these records shall however not concern the content of the communication to which they relate.]recordings of telephone conversations, electronic communications and data traffic records held by an investment firm;
Amendment 343 #
Proposal for a regulation
Article 17 – paragraph 2 – point f a (new)
Article 17 – paragraph 2 – point f a (new)
(f a) require existing telephone and existing data traffic records held by a telecommunication operator, where such records may be relevant to prove insider dealing or market manipulation in violation of this Regulation or directive [new MAD]. The records referred to in this point shall not include the content of voice communications by telephone.
Amendment 346 #
Proposal for a regulation
Article 17 – paragraph 2 – point f b (new)
Article 17 – paragraph 2 – point f b (new)
(f b) request the freezing and/ or sequestration of assets;
Amendment 348 #
Proposal for a regulation
Article 17 – paragraph 2 – point f c (new)
Article 17 – paragraph 2 – point f c (new)
(f c) suspend trading of the financial instrument concerned;
Amendment 349 #
Proposal for a regulation
Article 17 – paragraph 2 – point f d (new)
Article 17 – paragraph 2 – point f d (new)
(f d) require temporary cessation of any practice that is contrary to the provisions of this regulation;