Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse and the texts adopted for its implementation put into place a new legal framework for the prevention, detection, investigation and the punishment of market abuse. The new framework, which applies as from 3 July 2016, replaces the framework set up by Directive 2003/6/EC of the European Parliament and of the Council of 28 January 2003 on insider dealing and market manipulation (market abuse) and which was introduced in Luxembourg by the amended Law of 9 May 2006 on market abuse.