The European Securities and Markets Authority published its second consolidated report on administrative sanctions and measures imposed by EU Member States in 2024 across financial sectors under ESMA’s remit. The report shows that while the number of sanctions and measures remained broadly stable compared with 2023, the aggregated value of fines increased to more than EUR 100 million. More than 970 administrative sanctions and measures were imposed in 2024. The highest amounts of administrative fines were issued under the Market Abuse Regulation and the Markets in Financial Instruments Directive. A more granular breakdown indicates that over 60% of sanctions and measures were administrative fines and 10% were issued via settlement procedures, with settlements totalling more than EUR 20 million. ESMA also highlights discrepancies across Member States in the use of sanctioning powers, while noting that supervisory effectiveness cannot be assessed solely by sanction volumes or amounts. Building on the findings, ESMA will continue discussions with national securities markets authorities to support effective and consistent implementation of capital markets rules and to work towards more consistent enforcement outcomes across the EU.
European Securities and Markets Authority 2025-10-16
European Securities and Markets Authority publishes 2024 sanctions report showing over 970 measures and more than EUR 100 million in fines
The European Securities and Markets Authority released its second report on administrative sanctions and measures by EU Member States in 2024, noting stable sanctions but increased fines over EUR 100 million. The Market Abuse Regulation and the Markets in Financial Instruments Directive saw the highest fines, with over 60% being administrative fines. ESMA plans to engage with national authorities to enhance consistent enforcement of capital markets rules across the EU.