Activities of Sebastian Valentin BODU related to 2011/0297(COD)
Shadow opinions (1)
OPINION on the proposal for a directive of the European Parliament and of the Council on criminal sanctions for insider dealing and market manipulation
Amendments (9)
Amendment 8 #
Proposal for a directive
Article 1 – paragraph 1
Article 1 – paragraph 1
1. This Directive establishes minimum rules for criminal sanctions for the most serious market abuse offences, namely insider dealing and market manipulation. This Directive shall only apply to transactions, orders or behaviours which would fall within Regulation (EU) No. ... of the European Parliament and the Council on insider dealing and market manipulation and which would be prohibited under that Regulation.
Amendment 9 #
Proposal for a directive
Article 2 – point 1
Article 2 – point 1
Amendment 10 #
Proposal for a directive
Article 2 – point 1 a (new)
Article 2 – point 1 a (new)
1a. The definitions provided in Article 5 of Regulation (EU) No... of the European Parliament and the Council on insider dealing and market manipulation shall also apply to this Directive.
Amendment 11 #
Proposal for a directive
Article 2 – point 2
Article 2 – point 2
2. ‘Inside information’ means information within the meaning of Article 6(1)(a) to 6(1)(d) of Regulation (EU) No…...of the European Parliament and the Council on insider dealing and market manipulation. Information shall not be "inside information" for the purposes of this Directive if it would only be considered inside information as a result of Article 6(3) of that Regulation.
Amendment 12 #
Proposal for a directive
Article 3 – introductory part
Article 3 – introductory part
Member States shall take the necessary measures to ensure that the following conduct constitutes a criminal offence, when committed intentionally by a natural person:
Amendment 14 #
Proposal for a directive
Article 3 – point a
Article 3 – point a
(a) when in possession ofthe person concerned is in possession of inside information and knows that the information is inside information, using that information to acquire or dispose of financial instruments to which that information relates for one's own account or for the account of a third party. This also includes using inside information to cancel or amend an order concerning a financial instrument to which that information relates where that order was placed before entering into possession of that inside information; or
Amendment 15 #
Proposal for a directive
Article 3 – point b
Article 3 – point b
(b) when the person concerned is in possession of inside information and knows that the information is inside information, disclosing inside information to any other person, unless such disclosure is made in the lawful course of the exercise of duties resulting from employment or profession.
Amendment 16 #
Proposal for a directive
Article 3 – point b a (new)
Article 3 – point b a (new)
(ba) when the person concerned is in possession of inside information and knows that the information is inside information, recommending or inducing another person, on the basis of inside information, to acquire or dispose of financial instruments to which that information relates.
Amendment 17 #
Proposal for a directive
Article 3 – paragraph 1 a (new)
Article 3 – paragraph 1 a (new)
Points (a) and (ba) of paragraph 1 shall not apply unless the inside information had a material influence on the decision of the person concerned to acquire or dispose of the financial instruments or to recommend or induce another person to do so.