In order to ensure that a Community framework against market abuse is sufficient, any infringement of the prohibitions or requirements laid down pursuant to this Directive will have to be promptly detected and sanctioned. To this end, sanctions should be sufficiently dissuasive and proportionate to the gravity of the infringement and to the gains realised and should be consistently applied.
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New version applies from 04/01/2011 — introduced by Directive 2010/78/EU.
52 provisions change.
Later versions: 03/07/2016.
Recital 38 changes in this version: compare with the current text.