Market Manipulation as a Capital Market Crime in the Light of the Act on Trading in Financial Instruments and the Community Law

Abstract

The paper discusses legal protection awarded to the participants of the capital market. It examines the provisions of domestic criminal law designed to ensure such protection against the background of the EU solutions. Provisions included in the Act on Trading in Financial Instruments and in the MAR regulation have been thoroughly examined with regard to the manipulation of financial instruments. Manipulation belongs to the most serious infringements in the capital market. It inflicts financial losses on the market participants and seriously undermines trust of other investors in the market.