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Business

EU Passes Rules to Stop Insider Trading

European Union finance ministers meeting in Brussels on Tuesday approved new legislation aimed at curbing insider trading on stock markets. Member states have agreed to set up a central EU office to fight insider trading and other market-manipulating crimes. Each country will also be obliged to establish a regulatory body to supervise its market activities. EU countries have 18 months to enshrine the directive in national law. The aim is to harmonize EU legislation on insider training while increasing investors' confidence in European markets.