The Presidency has asked for views from the Council of the EU on whether the proposals for a Directive on Criminal Sanctions for Insider Dealing and Market Manipulation (CMAD) and the Regulation on Market Abuse (MAR) are compatible with the “ne bis in idem” principle. Under this principle, a person who has already been subject to criminal proceedings cannot be subject to new ones for the same act. The Presidency notes that this principle, enshrined in the Charter of the Fundamental Rights of the European Union, could be breached when both criminal and administrative sanctions are imposed, where the administrative sanctions are so severe as to be considered punitive. Although this is common practice in several Member States, the Presidency asks Ministers for clarification and, if the issue requires addressing, whether the text of the proposals should deal with this or whether it is a matter for the authorities of each Member State in the context of specific cases. (Source: CMAD State of Play and Orientation Debate)