Local view for "http://purl.org/linkedpolitics/eu/plenary/2013-09-10-Speech-2-211-017"
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"en.20130910.34.2-211-017"2
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"This review of the legislation on market abuse aims to curb the kind of market manipulation, such as insider dealing and rate fixing, that reduces investor confidence and contributed to the financial crisis. In order to get the European economy growing again, companies need to be able to use EU financial markets to raise capital, and this requires them to have confidence in those markets. The new Regulation is needed to bring the law up-to-date with new markets and ways of trading, to close loopholes and to make sure regulators have the ability to monitor, detect and prosecute market abuse. I supported the report of my Labour colleague, Arlene McCarthy, who called for the scope of the law to be widened, to ensure that abuse such as the Libor scandal would be a criminal offence and that there are tough penalties for offenders. The report also requires protection for whistleblowers and introduces a trading window to prevent managers, who have access to more information, trading on their own accounts during certain times."@en1
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