Brussels, 20/12/2013 (Agence Europe) - The EU is expected to introduce a raft of penalties for market abuse and insider dealing, ranging up to four years in prison, with the aim of restoring market confidence and providing better protection for investors. A provisional agreement was reached in trialogue talks at the last moment on Friday 20 December on changes to the directive on financial surveillance of insider dealing relating to financial benchmarks and other forms of market manipulation. The EU's measures come after a series of financial scandals and fiddling of the LIBOR and EURIBOR benchmarks earlier this year. Member states will have the option of introducing tougher rules. The penalties can go up to four years in prison for insider dealing and two years in prison for the leaking of internal information. It will also be possible to issue criminal penalties for market abuse arising from imprudence or negligence. The agreement now needs confirmation from the European Parliament and the EU Council of Ministers. (MD/transl.fl)