Stéphane de Navacelle gave a brief presentation of Directive 2003/6/CE on insider dealing and market manipulation (Market Abuse Directive – MAD). The directive sets a general framework to fight insider trading and market manipulation practices. It aims at through the prohibition of manipulation of markets and trading information that is not publicly available. A new MAD is still in drafting and it will extend its scope and provides new powers to correctly sanction infringers. strengthening investor confidence and market integrity