The European Securities and Markets Authority (ESMA), the EU’s securities regulator, today released its annual report on administrative and criminal penalties, as well as other administrative measures, issued under the Market Abuse Regulation (MAR) in 2019.
The report shows that national competent authorities (NCAs) and other authorities imposed a total of € 88 million in fines related to 339 administrative and criminal proceedings under MAR.
NCAs reported 279 administrative sanctions and measures and 60 criminal sanctions for MAR violations in 2019. In total, around 82 million euros in financial penalties were imposed for administrative penalties, while 6 million euros were imposed for criminal offenses against MAR.
Despite a decrease in the number of administrative sanctions under MAR, from 472 in 2018, the overall financial sanctions imposed are significantly higher, falling to 88 million euros compared to 10 million euros in 2018. While the criminal penalties quadrupled to 60, from 15 in 2018, with financial penalties amounting to 6 million euros compared to 65,650 € in 2018.
The report will contribute to ESMA’s ongoing work to foster supervisory convergence in the application of MAR and will contribute to ESMA’s objective of developing a European results-oriented supervisory and enforcement culture. .