The European Securities and Markets Authority (ESMA) has published its second consolidated report on sanctions and measures imposed in EU Member States. In 2024 over 970 administrative sanctions were imposed in financial sectors under ESMA’s remit – remaining stable compared with 2023.<\/p>
The aggregated amount of administrative fines rose to over € 100 million: the highest amounts imposed related to breaches of the Market Abuse Regulation (MAR) and Measures in Financial Instruments Directive (MiFID II). Around 60% of the sanctions were administrative fines, with around 10% issued by way of settlement procedures, amounting to over € 20 million.<\/p>
The report demonstrated considerable differences between Member States in tempts of exercising sanctioning powers: whether in terms of the amount and type of sanctions as well as use of settlements. Austria ranks mid-table. Austria’s successful use of the accelerated conclusion of proceedings is particularly noticeable compared with Europe as a whole. The FMA’s comparatively strong activity is apparent regarding breaches in relation to MAR, MiFID II and undertakings for collective investment in transferable securities (UCITS).<\/p>
This publication supports ESMA’s objective of promoting greater supervisory convergence and transparency in the European financial market, and in ensuring that comparable breaches lead to comparable enforcement measures.<\/p>