Team (2013:385) For Action Against Market Abuse In The Wholesale Energy Trading Products

Original Language Title: Lag (2013:385) om ingripande mot marknadsmissbruk vid handel med grossistenergiprodukter

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Read the untranslated law here: http://rkrattsbaser.gov.se/sfst?bet=2013:385

Introductory provisions



section 1 of this Act contains provisions which complement

European Parliament and Council Regulation (EC) no 1227/2011 by

October 25, 2011 on the integrity and transparency of

wholesale markets for energy.



The regulation contains provisions on the prohibition of the

insider trading, the obligation to publish

inside information, the prohibition of market manipulation,

reporting requirements and supervision of wholesale markets

for energy.



section 2 for the purposes of this Act applies to the definitions

see Regulation (EU) no 1227/2011.



Criminal liability, etc.



paragraph 3, anyone who violates any of the prohibitions against insider trading in the

Article 3(1)(a) and (c) of Regulation (EU) no 1227/2011 is sentenced to

imprisonment of up to two years.



If the crime with respect to the scope and other

the circumstances are serious, shall be liable to a prison sentence of at least six

months and a maximum of four years.



If the crime is minor, shall be liable to a fine or imprisonment of up to

six months.



section 4 of The who negligently violates any of the prohibitions on

insider trading in article 3(1)(a) and (c) of Regulation (EU) no

1227/2011 is sentenced to a fine or imprisonment not exceeding one year. In

call transfer shall not be responsible.



5 § the contravenes the prohibition of disclosure of

insider information in article 3(1)(b) of Regulation (EU) no

1227/2011 is sentenced to a fine or imprisonment not exceeding one year.



If the information becomes publicly known simultaneously with the

divulged, is sentenced not to liability.



section 6 of the prohibition to engage in, or attempt to

conduct, market manipulation in article 5 of

Regulation (EU) no 1227/2011 is sentenced to imprisonment not exceeding two

year.



If the crime in view of the scale of market manipulation

or other circumstances, are considered to be aggravated, is sentenced to

imprisonment of not less than six months and not more than four years.



If the crime is minor, shall be liable to a fine or imprisonment of up to

six months.



section 7 of The who negligently violates the prohibition to conduct

market manipulation in article 5 of Regulation (EC) no

1227/2011 is sentenced to a fine or imprisonment not exceeding one year. In

call transfer shall not be responsible.



paragraph 8 of The reporting under article 15 of regulation

(EU) no 1227/2011 may not reveal to the reporting

relates or to any third party that reporting is

occurred.



§ 9 The reporting pursuant to article 15 of regulation

(EU) no 1227/2011 may not be held liable for breaking

against any confidentiality, if the reporter had

reason to expect that the reporting should be done.



10 § whoever intentionally or recklessly overrides

its reporting requirements under article 15 of regulation

(EU) no 1227/2011 or violate message prohibition under

§ 8 shall be liable to a fine.



section 11 of the exchanges of offences under paragraphs 3 to 7 shall be explained

forfeited, unless it is manifestly unfair.



Supervisory authority



section 12 of the supervisory authority is the authority that the Government appointed

According to Chapter 1. section 7 of the electricity Act (1997:857).



Functions and powers of the supervisory authority



paragraph 13 of the regulatory authority in carrying out the tasks of the

the national supervisory authority according to Regulation (EU) no

1227/2011 and monitors to



1. the regulation, delegated acts and implementing acts

adopted on the basis of the regulation is complied with, and



2. this law and the regulations issued in connection with

the law is followed.



section 14 of the supervisory authority shall notify the Prosecutor when the

reason to assume that a breach of the prohibitions of

Article 3 or 5 of Regulation (EC) no 1227/2011 has been committed.

The same applies in the case of infringement of

the reporting obligation of article 15 or violation of

Notice the prohibition under section 8.



section 15, in order to carry out its functions under section 13,

the supervisory authority shall submit to the



1. a company or another to provide

information, documents or other things,



2. are expected to be able to provide information on the matter to

appear for interrogation at the time and place as the authority

determines.



An order referred to in the first subparagraph 1 shall not refer to a

document whose content can be assumed to be such that a lawyer

or a lawyer's counsel may not be heard as a witness of

content and held by the lawyer or adviser or

the favour of the confidentiality terms.



An injunction under the first subparagraph shall be effective immediately, if the

anything else is not determined. The order may be subject to a penalty.



§ 16 supervisory authority, when it is necessary

conduct a study of a market participant.



section 17 of the one who is responsible or subject to

examination under this Act shall not impose unnecessary.



section 18 of the regulatory authority may inform the injunctions

needed to ensure that the provisions of Regulation (EU)

No 1227/2011 and implementing acts adopted on the basis

of the regulation is complied with.



An injunction under the first subparagraph shall be effective immediately, if the

anything else is not determined. The order may be subject to

liquidated damages.



Fees



19 § to finance supervisory tasks

According to this law, the market participants who are registered with the

the supervisory authority referred to in article 9 of Regulation (EU) no

1227/2011 pay fees. The Government may announce

regulations on such charges.



Appeal



section 20 of the regulatory authority's decision under this Act may

be appealed to the administrative court.

The regulatory authority's decision under section 14 shall not

subject to appeal.



Leave to appeal is required for an appeal to

the administrative court.