markedsmisbrukregulering

Markedsmisbrugregulering refers to a regulatory framework designed to prevent market abuse and to maintain fair, orderly, and efficient financial markets. It typically covers activities on regulated markets, multilateral trading facilities, and other trading venues, as well as related communications that could affect asset prices. The aim is to protect investors and ensure the integrity of price formation by preventing insiders from exploiting confidential information and by prohibiting manipulative trading practices.

Key prohibitions include insider dealing, i.e., trading on material non-public information; illegal disclosure of inside information; and market manipulation, such as disseminating false or misleading information, or conduct that creates a false impression about supply, demand, or prices. The rules also set standards for handling inside information, the duties of issuers and persons with access to such information to disclose material data to the market in a timely and accurate manner, and measures to prevent improper use of information, such as information barriers and compliance programs.

Enforcement is typically carried out by national competent authorities, sometimes in coordination with a central regulator or a supranational body. Penalties can include civil fines, disgorgement of ill-gotten profits, trading bans, and in some jurisdictions criminal sanctions. Supervisory authorities may require ongoing reporting, surveillance of trading activity, and investigations into suspected breaches.

Historically, markedsmisbrugregulering draws on international standards and has been strengthened through European Union and other jurisdictions' reforms to align with MiFID II, MAR, and related regimes. While specifics vary by country, the overarching goal remains to preserve market integrity, protect investors, and promote confidence in financial markets.