EU Energy Law Volume X, Insider Trading and Market Manipulation in the European Wholesale Energy Markets - REMIT

Edited by: John Ratliff, Roberto Grasso

Regulation (EU) No. 1227/2011 of the European Parliament and of the Council on Wholesale Energy Market Integrity and Transparency ("REMIT") entered into force on December 28, 2011. The Regulation is the first attempt to regulate EU trading in energy products, which is not purely financial. REMIT introduces two fundamental prohibitions - on insider trading and market manipulation - and a series of disclosure and other obligations on companies active in the wholesale markets for electricity and gas in the EEA, which the Agency for Cooperation of European Regulators ("ACER") has been developing since in consultation with various stakeholders. This book offers a detailed, yet clear, guide for practitioners and in-house counsel faced with these issues, drawing on the available texts and experience so far. It provides commentary on the Regulation, article by article, and it situates the Regulation in legal, economic, and political context. In addition, the book describes the relationship between the REMIT and the European financial regulations - such as MAD, EMIR, MiFID II, and MiFIR - which inspired its drafting. The book explains the interplay between the REMIT and EU competition law with regard to the concept of market abuse and the obligation to disclose inside information. The book then provides an overview of the rules governing the trading on wholesale energy products in the United States, as well as their scope, functioning, enforcement, and a comparison with the corresponding provisions of the REMIT. A chapter is also dedicated to the economics behind the rules on market manipulation. *** Librarians: ebook available on ProQuest and EBSCO (Series: EU Energy Law - Vol. 10) [Subject: EU Law, Energy Law, Competition Law]

Not Yet Published
Format: Cloth
ISBN: 9789077644218