The Irish authorities are reportedly planning to introduce tough new legislation to counter stock market abuse.
According to reports in the national media, as part of an EU drive to clamp down on such offences, the Republic's government is planning to write new offences such as 'market abuse', 'disseminating false information', and 'market manipulation' into the new laws.
Insider trading legislation is also likely to be updated, and scrutiny will additionally be given to situations in which conflicts of interest can arise as a result of stockbrokers receiving fees from companies which their analysts also research and make recommendations on.
Reporting on the planned legislation earlier this week, the Irish Independent revealed that although the deadline for the introduction of criminal sanctions is in 2006, the new code is likely to be enforced by the end of this year.
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