Slovakia
The Act on Securities and Investment Practices regulates securities, investment services and some contractual issues involving securities.
Overview: This law regulates securities, investment services and some contractual issues involving securities. It also covers the activities of persons providing investment services, the central securities depository and other financial market entities as well as capital market supervision. In addition, it transposes EU regulation, including MAR, into Slovakian law.
Article 71f: 1) A securities dealer shall establish adequate arrangements aimed at preventing the following activities in the case of any relevant person who is involved in activities that may give rise to a conflict of interest, or who has access to inside information in the meaning of Article 132 or to other confidential information by virtue of an activity carried out by him on behalf of the securities dealer: …
Article 73B: Operating conditions for securities dealers in relation to clients
(1) A securities dealer shall, when providing investment services, ancillary services or investment activities, act in the interests of clients in accordance with the principles of an honest business relationship and professional care. The securities dealer shall operate in such a way so as not to impair the security of the financial system and it may not perform any activities directed towards the manipulation of market.
Article 114: Takeover bid
(3) A legal or natural person which decides or becomes obliged to make a takeover bid (hereinafter the "offeror"), persons acting in concert with the offeror, members of their bodies, if legal persons, the offeree company, members of the offeree company's bodies and shareholders shall, during the preparation and course of the takeover bid, act in relation to the takeover bid so as not to adversely affect the securities market, especially not through market manipulation as defined in Article 131a, and shall adopt measures to prevent the premature dissemination of information, the dissemination of false information, as well as the misuse of inside information in connection with the takeover bid.
Article 131a: Market Manipulation
Article 132: Prohibition on using inside information
Article 132a: Obligation to report manipulation and insider trading to the National Bank of Slovakia.
Article 135: Scope of Supervision
Article 135a: The National Bank of Slovakia is required to cooperate with Member States’ competent authorities responsible for the supervision of the financial market regarding market abuse issues.
Article 144: Sanctions (12) (fines and penalties for market abuse)
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