Scope

Abstract This chapter turns to Article 2 of the Market Abuse Regulation, which defines the scope of the Regulation in its entirety. Article 2 distinguishes between the primary scope of application governed by Article 2(1) and the extended scope of application solely for the prohibition of market abuse governed by Article 2(2). However, Article 2(3) sets almost no limitation for the scope of application for certain transactions, orders, or behaviour on trading venues. Finally, Article 2(4) defines the territorial scope of application. This chapter discusses the historical development of Article 2’s scope of application before turning to more detailed commentary on each section of the Article.