Activities of Hans-Peter MARTIN related to 2011/0295(COD)
Plenary speeches (1)
Insider dealing and market manipulation (market abuse) (debate)
Amendments (4)
Amendment 60 #
Proposal for a regulation
Recital 2
Recital 2
(2) An integrated and, efficient and transparent financial market requires market integrity. The smooth functioning of securities markets and public confidence in markets are prerequisites for economic growth and wealth. Market abuse harms the integrity of financial markets and public confidence in securities and derivatives.
Amendment 61 #
Proposal for a regulation
Recital 4
Recital 4
(4) There is a need to establish a uniform framework in order to preserve market integrity and, to avoid potential regulatory arbitrage and to implement accountability in the event of attempted manipulation, as well as to provide more legal certainty and less regulatory complexity for market participants. This directly applicable legal act aims at contributing in a determining manner to the smooth functioning of the internal market and should, consequently, be based on the provisions of Article 114 TFEU, as interpreted in accordance with the consistent case-law of the Court of Justice of the European Union.
Amendment 89 #
Proposal for a regulation
Recital 15
Recital 15
(15) Spot markets and related derivative markets are highly interconnected and global, and market abuse may take place across markets as well as across borders, which can lead to significant systemic risks. This is true for both insider dealing and market manipulation. In particular, inside information from a spot market can benefit a person trading on a financial market. Therefore, the general definition of inside information in relation to financial markets and commodity derivatives should also apply to all information which is relevant to the related commodity. Moreover, manipulative strategies can also extend across spot and derivatives markets. Trading in financial instruments, including commodity derivatives, can be used to manipulate related spot commodity contracts and spot commodity contracts can be used to manipulate related financial instruments. The prohibition of market manipulation should capture these interlinkages. However, it is not appropriate or practicable to extend the scope of the Regulation to behaviour that does not involve financial instruments, for example, to trading in spot commodity contracts that only affects the spot market. In the specific case of wholesale energy products, the competent authorities should take into account the specific characteristics of the definitions of [Regulation (EU) No…of the European Parliament and the Council on Wholesale Energy Market Integrity and Transparency] when they apply the definitions of the inside information, insider dealing and market manipulation of this Regulation to financial instruments related to wholesale energy products.
Amendment 96 #
Proposal for a regulation
Recital 21
Recital 21
(21) In order to ensure uniform market conditions between trading venues and facilities subject to this Regulation, operators of regulated markets, MTFs and OTFs should be required to adopt proportionate structural and transparent provisions aimed at preventing and detecting market manipulation practices.