ESMA Guidelines and Recommendations

ESMA finalises standards on sanctions and measures under MAR

ESMA Guidelines and Recommendations

Date: 12 September 2016

On 26 July 2016, the European Securities and Markets Authority (ESMA) issued final implementing technical standards (ITS) regarding sanctions and measures which will implement the Market Abuse Regulation (MAR). 

The ITS prescribe how national competent authorities (NCAs) should notify ESMA annually of the investigations they conduct and the sanctions and measures imposed in their Member States under MAR. The Regulation provides for two types of submission of information, which are as follows:

  • NCAs shall provide ESMA annually with aggregated information regarding all administrative and criminal sanctions and other administrative measures imposed in accordance with Articles 30, 31 and 32 of MAR as well as regarding administrative and criminal investigations undertaken in accordance with those articles; and  
  • Administrative and criminal sanctions and other administrative measures that are disclosed to the public by NCAs shall simultaneously be reported to ESMA. 
The ESMA has submitted  the final ITS for endorsement to the European Commission which is followed by a non-objections period by the European Parliament and Council respectively.