ESMA finds NCAs imposed sanctions of €8.4 million for MiFID II breaches in 2020

Overall, in 23 (out of 30) EU/EEA Member States, NCAs imposed a total of 613 sanctions and measures in 2020 for an aggregated value of about 8.4 million, compared to 371 sanctions and measures and about 1.8 million, issued by NCAs of 15 EU/EEA member states, in 2019.

Metadata

Provider:

ESMA

URL:

https://www.esma.europa.eu/press-news/esma-news/esma-finds-ncas-imposed-sanctions-%E2%82%AC84-million-mifid-ii-breaches-in-2020

Retrieved on:

Monday, July 19, 2021

Information

Tags:

European Union directives, Directive 2014/65/EU, European Union, Financial regulation, Systemic risk, Economy, Articles, Market economics)

Summary

Key Points:

Overall, in 23 (out of 30) EU/EEA Member States, NCAs imposed a total of 613 sanctions and measures in 2020 for an aggregated value of about 8.4 million, compared to 371 sanctions and measures and about 1.8 million, issued by NCAs of 15 EU/EEA member states, in 2019.
As a result, the figures in this Report on the number of imposed sanctions and measures imposed should be read carefully.
The MiFID II sanctions report published today contains an overview of the applicable legal framework and information on the sanctions and measures imposed by NCAs in accordance with Article 71(4) of the MiFID II Directive from 1 January 2020 to 31 December 2020.
NCAs submit data on the use of sanctions to ESMA, which forms the basis of the annual aggregated report.