E08-PC-30: Market Abuse Framework

ERGEG and CESR Public Consultation 2008/07/21 - 2008/08/29

Background

Market abuse issues relating to energy trading

The European Regulators´ Group for Electricity and Gas (ERGEG) and the Committee of European Securities Regulators (CESR) have published a consultation paper on market abuse issues relating to energy trading.

Key messages are:

•    The existing EU securities legislation may not properly address potential market integrity issues in the
     electricity and gas markets;  

•    ERGEG and CESR advice the European Commission to explore a tailor-made EU market abuse
     framework for the electricity and gs sector; 

•    The Regulators also call for legally binding disclosure obligations in energy sector regulation including
     sanction mechanisms.

ERGEG and CESR invite market participants to comment on their draft advice to the European Commission. The closing date for the public consultation is 29 August 2008. All responses should be submitted online on CESR´s website and via email to fis@ergeg.org.  The final advice from ERGEG and CESR will be provided to the Commission by early Autumn 2008.

Consultation Documents

Market abuse framework consultation paper
July 2008

E08-FIS-07-04
Market Abuse – ERGEG and CESR advice to the European Commission in the context of the Third Energy Package – Response to Question F.20, October 2008

E08-FIS-07-04a
Market Abuse – Evaluation of Comments Received, October 2008

Public Responses

E08-PC-30 - 01
AEP

E08-PC-30 - 02
AMAFI

E08-PC-30 - 03
BDEW

E08-PC-30 - 04
British Energy

E08-PC-30 - 05
CEZ

E08-PC-30 - 06
CFA Institute

E08-PC-30 - 07
E.ON

E08-PC-30 - 08
ECT Group

E08-PC-30 - 09
EDF Trading

E08-PC-30 - 10
Edison

E08-PC-30 - 11
EEX

E08-PC-30 - 12
EnBW

E08-PC-30 - 13
ENDEX

E08-PC-30 - 15
EnergyWatch

E08-PC-30 - 16
ENI

E08-PC-30 - 14
Enel

E08-PC-30 - 17
EPSU

E08-PC-30 - 18
Eurelectric

E08-PC-30 - 19
GEODE

E08-PC-30 - 20
INEOS

E08-PC-30 - 21
ISDA-FOA

E08-PC-30 - 22
Nord Pool

E08-PC-30 - 23
Nord Pool Spot

E08-PC-30 - 24
Powernext

E08-PC-30 - 25
University of Greenwich

E08-PC-30 - 26
Saxonian Exchange Supervisory Authority

E08-PC-30 - 27
Scottish and Southern Energy

E08-PC-30 - 28
Statoil Hydro

E08-PC-30 - 29
VDM Energy Trading

E08-PC-30 - 30
VEÖ

E08-PC-30 - 31
VIK

E08-PC-30 - 32
VKU

E-08-PC-30-33
Merrill Lynch

E08-PC-30-34
EFET

E08-PC-30-35
EuroGas