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ESMA sees significant increase in EU market abuse sanctions to €88 million in 2019

21 December 2020

The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has today published its annual report on administrative and criminal sanctions, 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 actions under MAR.

NCAs reported 279 administrative sanctions and measures and 60 criminal sanctions for MAR infringements in 2019. In total, approximately €82 million in financial penalties were levied for administrative sanctions, while €6 million was imposed in relation to criminal infringements of MAR.

Despite a decrease in the number of administrative sanctions under MAR, falling from 472 in 2018, the overall financial penalties imposed are significantly higher, rising to €88 million from €10 million in 2018. While criminal sanctions have increased four-fold to 60, from 15 in 2018, with financial penalties rising to €6 million from €65,650 in 2018.  

Next steps

The Report will help ESMA’s ongoing work in fostering supervisory convergence in the application of the MAR and contribute to ESMA’s goal to develop an EU outcome-focused supervisory and enforcement culture.