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15 November 2018

ESMA reports on NCAs’ use of sanctions and administrative measures under MAR


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ESMA published its first annual report concerning administrative and criminal sanctions as well as other administrative measures issued by National Competent Authorities under the Market Abuse Regulation.


The relevant infringements under MAR to which the sanctions and administrative measures refer to include, amongst others:

insider dealing and unlawful disclosure of inside information (Article 14 MAR); and

market manipulation (Article 15 MAR).

MAR foresees administrative sanctions for infringing the Regulation, which depending on the gravity of the infringement, can amount up to 5,000,000 Euros.

The report is issued pursuant to Article 33 of MAR and contains aggregated information on administrative and criminal sanctions and other administrative measures imposed in the EU on the basis of MAR from 3 July 2016 (date on which MAR became applicable) to 31 December 2017.

Full report



© ESMA


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