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ARTICLE · 24 MARCH 2017

Implementation Of Market Abuse Regulation Enters Final Phase

De Brauw Blackstone Westbroek
De Brauw Blackstone Westbroek
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De Brauw Blackstone Westbroek

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A recently published draft decree will soon finalise the implementation of the European Market Abuse Regulation (MAR) in the Netherlands.

NetherlandsFinance and Banking
Roan Lamp
Roan Lamp
Patrick Ploeger
Patrick Ploeger
Marnix Somsen
Marnix Somsen
Rick Van ’T Hullenaar
Rick Van ’T Hullenaar
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A recently published draft decree will soon finalise the implementation of the European Market Abuse Regulation (MAR) in the Netherlands. Although the MAR has had direct effect since July 2016 with significant implementing legislation in force since August 2016, several pieces of legislation still need to be amended as part of the implementation process. These include the Financial Markets Supervision Act and the Decree on Administrative Fines in the Financial Sector. The proposed amendments concern the turnover-related element of fines, maximum fines, and disclosure of enforcement actions.

Once this latest implementation phase is finalised, MAR supervision and enforcement will be fully in place. According to the Ministry of Finance, this will mean that the maximum fines set by the MAR can then be imposed. The Minister of Finance wants to complete the implementation as soon as possible, since the implementation deadline was 3 July 2016.

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