This article examines the new Market Abuse Regulation (MAR) 2014 and Directive on Criminal Sanctions for Market Abuse (CSMAD) 2014 as highly significant developments of European capital markets law in the post crisis regulatory environment. It also considers how they appear to manifest a wider new enforcement emphasis. Key features of the MAR 2014 and CSMAD 2014 are situated alongside references to the UK and US and Australia, to examine the hypothesis that the global financial crisis marks a turning point for financial crime enforcement. The article considers how these European initiatives can be seen as part of an increasingly global pattern of heightened interest in channelling criminal responses for market abuse. This apparent trend is explored through the emphasis currently being given in policy discourses to the purported unique qualities of criminal enforcement amongst a suite of enforcement techniques, considering how this itself mirrors a longstanding focus for academic scholarship.