Cap. 476 ст. 13Investigations into market abuse.

(1) Without prejudice to any other functions of the competent authority under this Act, the Market Abuse Regulation or any other law, the competent authority shall have the function of monitoring any trading venue in Malta and of detecting instances of market abuse.

(2) Where the competent authority suspects that circumstances may exist to indicate that the conduct of a person amounts to market abuse, it shall, in terms of its powers under this Act, the Market Abuse Regulation or any other applicable law, cause an investigation to be carried out with the purpose of determining whether or not the said behaviour amounts to market abuse.

(3) A European regulatory authority and an overseas regulatory authority may request that the competent authority carry an investigation in Malta and may further request that their officials be allowed to accompany the officials of the competent authority during the course of the investigation.

(4) The competent authority may refuse to act on a request made in pursuance of sub-article (3) namely where -

(a) such an investigation might adversely affect the sovereignty, security or public policy of Malta, in particular the fight against terrorism and other serious crimes or complying with the request is likely to affect its own investigation, enforcement activities or, where applicable, a criminal investigation;

(b) judicial proceedings have already been initiated in respect of the same actions and against the same person before the Courts of Malta; or

(c) a final judgment has already been delivered by the Courts of Malta in relation to such person for the same actions in Malta. In any of the cases above-mentioned, the competent authority shall notify the requesting European regulatory authority or the overseas regulatory authority accordingly, providing information, as detailed as possible, on those proceedings or judgment.

(5) Upon receipt of a request in terms of sub-article (3), the investigation shall be subject to the overall control of the competent authority and be subject to the provisions of this Act and the laws of Malta.