EU Council Backs Broader Insider Trading Rules

Law360, New York (June 27, 2013, 3:13 PM EDT) -- The upper house of the European Union's legislature on Wednesday said it had approved a compromise with the European Parliament on enhanced regulations to combat insider trading and manipulation of securities markets.

The Council of the European Union said a committee gave the green light on the council's behalf to a draft rule that would extend financial regulators' reach to cover newly-created trading venues such as multilateral trading facilities, organized trading facilities and over-the-counter trading.

The rule, together with a proposed directive on criminal sanctions, is...
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