Following the Constitutional Council decision of March 18, 2015 and Law n° 2016-819 of June 21, 2016, insider trading and market abuse offenses can be prosecuted in one of two ways:

  • Criminal prosecution by the Public Prosecutor and the Investigating Judge, governed by the provisions of the Monetary and Financial Code; or
  • Administrative prosecution by the Financial Markets Authority (AMF), governed by the EU MAR Regulation and the AMF’s General Regulation.
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