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Integrity of Markets
The Crédit Agricole Group is an active stakeholder in the transparency and integrity of financial markets. It fights against market abuse in order to strengthen the public’s trust. To this end, it relies on the applicable regulations.
The European Union’s market abuse framework is established under a Directive and an implementing regulation. The regulation requires banks to have systems in place that aim to prevent, detect, and, where necessary, report to competent authorities any suspicious transactions involving:
- transactions or attempted transactions initiated (performed on the basis of insider information);
- price manipulation or attempted price manipulation;
- dissemination or attempted dissemination of false or misleading information.
Transactions on financial instruments (mainly listed) and their derivatives, on own account or on behalf of clients, fall within this scope.
The concerned entities of the Group have implemented these systems, which primarily consist of:
- a procedural body;
- dedicated training sessions aimed at raising awareness and heightening vigilance among concerned employees;
- detection methods, including automated ones, for transactions on their own account or on behalf of their clients.
Moreover, they must inform their managers and concerned employees of their duty of abstention and discretion as well as the risk of sanctions in the event of a breach of these obligations.