This article, based on briefings by Slaughter and May's Financial Regulation Group, considers the European Commission's proposals to revise the Market Abuse Directive (2003/6/EC) (MAD), in the form in which they were adopted and published in October 2011. It outlines the key changes which would result from implementation of the Commission's MAD revision package and highlights some of the key issues and concerns arising.

For an overview of the Commission's proposals to revise MAD (known as MAD II or MAD 2), and to track their legislative progress and the latest developments, see Practice note, Hot topics: MAD II.

For an overview of the Commission's review of MAD, see Practice note, European Commission's Market Abuse Directive review.