Criminal sanctions for insider dealing and market manipulation

An agreement has now been reached on this regulation (subject to final approval by the plenary and the Council), including the following elements:

• harmonisation of minimum/maximum levels for sanctions as requested by the European Parliament – four years for insider dealing and market manipulation, and two years for improper disclosure
• the concept of serious offences, with appropriate criteria
• sanctions for legal persons – including a list of criminal and non-criminal sanctions.