The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has published the annual report concerning administrative and criminal sanctions as well as other administrative measures issued by National Competent Authorities (NCAs) under the Market Abuse Regulation (MAR).
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 provides for administrative sanctions which, depending on the gravity of the infringement, can amount up to 5,000,000 Euros for natural persons or to 15,000,000 Euros (or 15% of the total annual turnover) for legal persons.
The report is issued under 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 in 2018.