The Market Abuse Regulation (Regulation 596/2014) (MAR) and the Directive on criminal sanctions for insider dealing and market manipulation (2014/57/EU) (CSMAD) (together, MAD II) were published in the OJ on 12 June 2014. The Council of the EU adopted MAD II on 14 April 2014. The European Parliament adopted MAR at first reading on 10 September 2013 and CSMAD on 4 February 2014. MAR will enter into force in July 2016 (other than certain provisions per Art 39 which will come into effect on 2 July 2014). Member states have 2 years to transpose CSMAD into their national law. The UK is not taking part in the adoption of CSMAD and will therefore not be bound by, or subject to, its application.