The Council of the European Union published the text (6 December 2012), of the Council's general approach on the proposed Regulation on insider dealing and market manipulation (MAR), as agreed by the Permanent Representatives Committee (COREPER).
The Council of the EU also published its general approach (dated 12 December 2012) on the proposed Directive on criminal sanctions for insider dealing and market manipulation (CSMAD).
The MAR proposal with the CSMAD proposal will revise and replace the Market Abuse Directive (2003/6/EC) (MAD). Together, the proposals are known as MAD II. The Presidency may now begin negotiations with the EU Parliament on the basis of this agreed general approach, so as to reach agreement at first reading. The Parliament was scheduled to consider the MAD II proposals at its plenary session to be held between 14 and 17 January 2013.