The Parliament adopted on first reading a bill on the application of the measures against market abuse with financial instruments. It repeals the effective Market Abuse with Financial Instruments Act due to a repealed EU directive. A Regulation of the European Union of 2014 sets the regulatory framework for abuse with inside information, illegal disclosure of inside information and market manipulation, which is mandatory and directly applicable to Member States from 3 July 2016.
The bill defines the competent authority for the exercise of the powers under the regulation – the Financial Supervision Commission. The bill introduces coercive enforcement measures and administrative penal measures in line with the maximum fines and sanctions set out in the regulation.