Regulation 596/2014

MAR aims to strengthen the framework outlined in the 2003 Market Abuse Directive (MAD) by obligating member states to enforce along MAD guidelines. Together these reforms classify insider trading as a criminal offence, punishable with minimum fines of 3x the profit made via abuse or 15% of a company’s turnover.

Under Article 16(2) of MAR, countries have an obligation to detect and report market abuse. MAR gives the commission power to adopt regulatory and implementing standards which dictate parameters for what can be considered market abuse and how these incidents of market abuse should be punished. Implementation is set for July 3rd 2016.

The Market Abuse Regulation: covers abuse incidents on electronic trading platforms; defines and prohibits abusive behavior on high frequency trading platforms; classifies the manipulation of benchmarks within the domain of Market Abuse; prohibits market abuse in commodity and related derivative markets; and sets the stage for stronger institutional cooperation between financial and commodity regulators.

Q&A on the Market Abuse Regulation

MAR Full Text

Companies which deal with financial instruments admitted to trading on a regulated market or for which a request for admission to trading on a regulated market has been made; financial instruments traded on a multilateral trading facility (MTF); financial instruments traded on an organized trading facility (OTF); or financial instruments not covered by the previous three points where the price or value of which is linked to the price or value of a financial instrument referred to in those points.

http://www.marketsreformwiki.com/mktreformwiki/index.php/ESMA_Regulation_-_Market_Abuse_Directive_II/Market_Abuse_Regulation