摘要
随着金融市场一体化的推进,欧盟加强了对操纵市场行为的监管。新的监管框架由《关于内幕交易和操纵市场(市场不当行为)的指令》以及欧盟委员会制定的一系列执行措施构成。监管框架的主要内容涉及操纵市场行为的定义及其监管范围、股份回购计划及安定操作的豁免以及主管机关的执行及合作等。
European Union has enhanced supervision overmarket manipulation with development of financialintegration. The new supervisory framework consists ofDirectives on Insider Trading and Market Manipulation andvarious other measures laid down by the EU Committee.This supervisory framework covers definition andregulatory regime of market manipulation, exemptions onbuy-back program and stabilization as well as enforcementand collaboration between competent authorities.
出处
《证券市场导报》
北大核心
2005年第1期36-42,共7页
Securities Market Herald
