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Linklaters Insights: Investing in Europe: What do Europe’s new market abuse rules mean for investors?

9 August 2016

If you have investments in European listed companies, you should be aware of the EU’s new Market Abuse Regulation and how it may impact you, wherever in the world you are based.

From 3 July 2016, a new standardised EU-wide regime to prevent market abuse (market manipulation and insider dealing) takes effect, including new rules on disclosure of inside information, insider lists and restrictions on dealings by persons discharging managerial responsibilities.

The new regime is similar to the old one, but with some important changes, including a broader scope and a new framework for market soundings.

Investors outside of Europe who have European investments should consider whether their compliance procedures and training need to be refreshed to account for these new rules. Otherwise they may face the risk of committing an offence inadvertently. They should also be prepared for differences in the way they receive any market soundings relating to European companies.

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