The Interface of EU Criminal Law and Market Regulation

Ester Herlin-Karnell

This paper investigates the EU's approach to the fight against market abuse by looking at the EU stance on, and importance of, consumer confidence in the EU internal market as one of the driving motivations for the EU in the field of countering financial crimes. This will be contrasted with the impact of the new criminal law legislation powers under the policy area of "Freedom, Security and Justice" and discusses the consequences of using double measures to fight market abuse (i.e. civil penalties and criminal penalties) in the specific EU context. In addition, the paper explores the impact of the principle of proportionality and EU fundamental rights protection and possible challenges for the EU Court of Justice. A main theme running through this paper is the basic question as to what extent the EU legislator needs criminal law provisions for the enforcement of EU law. The paper does this by looking at the effect of administrative sanctions and their link to criminal law sanctions and the desirability of a double sanction regime as well as the aptness of a market theory template. Finally, the paper assesses the role of private actors for enforcing EU law in the area of anti-white collar crime and possible problems.

The abstracts and papers on this website reflect the views and opinions of the author(s). UACES cannot be held responsible for the opinions of others. Conference papers are works-in-progress - they should not be cited without the author's permission.