ESMA FINDS NCAS IMPOSED SANCTIONS OF €8.4 MILLION FOR MIFID II BREACHES IN 2020

July 19, 2021

The European Securities and Markets Authority (ESMA), the EU’s Securities Markets Regulator, has published today its third report on the use of sanctions and measures by National Competent Authorities (NCAs) under the Markets in Financial Instruments Directive (MiFID II).

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.

Next steps

ESMA continues its work to foster supervisory convergence in the application of MiFID II and will proceed issuing reports on sanctions on an annual basis for future reporting periods.

ESMA finds NCAs imposed sanctions of €8.4 million for MiFID II breaches in 2020 (europa.eu)

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