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The CSSF wishes to highlight that Regulation (EU) No 596/2014 of 16 April 2014 on market abuse (hereinafter, the “Market Abuse Regulation” or “MAR”) will apply from 3 July 2016 unless expressly provided otherwise.
The Market Abuse Regulation and the related legal instruments adopted at the level of the European Union put into place a new framework for the prevention, detection, investigation and the punishment of market abuse. The new framework replaces the existing framework that was established by Directive 2003/6/EC and implemented in Luxembourg by the law of 9 May 2006 on market abuse, as amended (hereafter, the “Market Abuse Law” or “MAL”).
One of the distinctive features of the new framework is a more detailed and sometimes more stringent...
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