Law On Market Abuse

By a Law dated 23 December 2016, the Luxembourg legislator adopted Bill of law 7022 (a) implementing (i) Directive 2014/57/EU on criminal sanctions for market abuse as well as (ii) the Commission Implementing Directive 2015/2392/EU with regard to reporting to competent authorities of actual or potential infringements in relation to the market abuse regulation; (b) supplementing specific provisions of Regulation 596/2014/EU on administrative measures and sanctions and (c) amending the Law of 11 January 2008 on transparency requirements for issuers ("Law").

When implementing these provisions, the Luxembourg legislator did not go beyond what was required pursuant to the provisions of said directives.