AI‑Driven Market Manipulation and Limits of the EU Law Enforcement Regime to Credible Deterrence

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"... this study suggests improving the existing EU anti‑manipulation law and enforcement with a number of policy proposals. Namely, (i) an improved, ‘harm‑centric’ definition of manipulation; (ii) an improved, ‘multi‑layered’ liability regime for AI‑driven manipulation; and (iii) a novel, ‘hybrid’ public‑private enforcement institutional architecture through the introduction of market manipulation ‘bounty‑hunters’."