The European Securities and Markets Authority (ESMA) has published a peer review of the supervisory practices EEA national competent authorities (NCAs) apply in enforcing the requirements of the Market Abuse Directive (MAD). The Directive deals with the prevention of the dissemination of misleading information, the breach of reporting obligations and market abuse.

ESMA’s peer review, conducted in parallel with a mapping exercise, identifies good practices, which NCAs should apply when supervising investment firms and regulated markets with regard to market abuse. ESMA included in its review the supervisory practices of those 30 NCAs that have responsibility in preventing, detecting and punishing market abuse. Overall, ESMA found that a majority of NCAs had correctly implemented MAD’s provisions.

Full ESMA Press Release.