CAPITAL MARKETS | ESMA publishes first consolidated report on sanctions

On 11 October 2024, the European Securities and Markets Authority (ESMA) published its first consolidated report on sanctions and measures imposed by the National Competent Authorities (NCAs) in Member States in 2023. In 2023, more than 970 administrative sanctions and measures were imposed across EU Member States in financial sectors under ESMA’s remit. The aggregated value of administrative fines amounted to more than 71 million EUR. The highest amounts of administrative fines were imposed under the Market Abuse Regulation (MAR) and the Markets in Financial Instruments Directive II (MiFID II).  Overall, the report highlights that there is still room for more convergence between NCAs in the exercise of their sanctioning powers. In line with the ESMA Strategy 2023-2028, the consolidated report contributes to supervisory and enforcement convergence and facilitates greater transparency on sanctions.

Newsletter n. 100 – October 2024