Except in the cases provided for in the preceding article, anyone who possesses privileged information and discloses it outside the normal course of their work, profession, or duties, thereby endangering market integrity or investor confidence, shall be punished with imprisonment for six months to four years, a fine of twelve to twenty-four months, and special disqualification from practicing their profession or activity for one to three years.
For the purposes of this article, the disclosure of privileged information in market research shall be considered as such when it has been carried out without complying with the requirements established in European regulations on markets and financial instruments.