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- Title
Private Enforcement des Marktmanipulationsverbots – Haftung bei Verstößen gegen Art. 15 MAR?
- Authors
Scholz, Marcel
- Abstract
The present summary discusses the question of whether civil liability for violations of the prohibition of manipulation according to Article 15 of the Market Abuse Regulation (MAR) is appropriate. It examines whether the market manipulation prohibition can be qualified as a protective law and whether potential liability exists under § 823 para. 2 of the German Civil Code (BGB). It is argued that private liability is in line with the legislative intent of MAR and could increase overall enforcement levels. It is recommended to adjust the standard of fault and strive for improved coordination between private and public enforcement.
- Subjects
MARKET manipulation; CIVIL code
- Publication
Zeitschrift für Bankrecht und Bankwirtschaft, 2022, Vol 34, Issue 3, p200
- ISSN
0936-2800
- Publication type
Article
- DOI
10.15375/zbb-2022-0306