EU Market Abuse Directive

Trade and Industry written question – answered on 15th May 2006.

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Photo of Geoffrey Clifton-Brown Geoffrey Clifton-Brown Shadow Minister (Foreign and Commonwealth Affairs)

To ask the Secretary of State for Trade and Industry what estimate he has made of the effect on the costs to British industry of the replacement of the existing anti-market abuse legislation with the EU market abuse directive.

Photo of John Healey John Healey The Financial Secretary to the Treasury

I have been asked to reply.

The market abuse directive (MAD) provides for a common approach to market abuse issues in an increasingly integrated financial services market in Europe. The Treasury published a regulatory impact assessment together with the regulations implementing the MAD. Copies of the assessment were placed in the Library of the House and it is available on the EU financial services section of HM Treasury's website.

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Bill Eatock
Posted on 17 May 2006 4:01 pm (Report this annotation)

Seems to me that the "so-called" European Union is a two edged sword and certain countries on mainland Europe have the sharpest blade/s.
The UK continues to be the poor man of Europe because Germany, France, etc, -against directives- protect their industries. The UK "plays the game" and manufacturing industries suffer the consequences.