33Moreover, as is evident from recitals 2 and 12 in the preamble thereto, the purpose of Directive 2003/6 is to protect the integrity of the European Union financial markets and to enhance investor confidence in those markets. That confidence depends on, inter alia, investors being placed on an equal footing and protected against the improper use of insider information (see, to that effect, Case C-45/08 Spector Photo Group and Van Raemdonck [2009] ECR I-12073, paragraph 47, and Case C-445/09 IMC Securities [2011] ECR I-5917, paragraph 27).
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