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ARTICLE · 14 FEBRUARY 2013

Insider Trading And Market Manipulation

De Brauw Blackstone Westbroek
De Brauw Blackstone Westbroek
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In connection with investigations into possible rate fixing by banks, the European Commission has amended its proposals for regulation on insider trading and market manipulation.

GlobalFinance and Banking
Patrick Ploeger
Patrick Ploeger
Marnix Somsen
Marnix Somsen
Roan Lamp
Roan Lamp
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New rules against benchmark manipulation

In connection with investigations into possible rate fixing by banks, the European Commission has amended its proposals for regulation on insider trading and market manipulation. Manipulation of benchmarks such as LIBOR and EURIBOR will be explicitly prohibited and subject to sanctions. The EU's justice ministers agreed to the Commission's amended proposals in December 2012 and the European Parliament is expected to discuss the proposals in May 2013.

ESMA and EBA have drawn up the following draft guidelines for the setting of EURIBOR and for the supervision of banks involved in the setting process:

  • Report on the administration and management of EURIBOR

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