On 13 July 2020, the European Securities and Markets Authority (ESMA) published its second report on sanctions and measures imposed under MiFID II by Member State national competent authorities (NCAs). The report finds that overall, in 15 out of 30 EEA Member States, NCAs imposed a total of 371 sanctions and measures in 2019 of an aggregated value of about €1.8 million.
ESMA is required to publish an annual report with aggregated information on all sanctions and measures imposed by NCAs pursuant to Article 71(4) of MiFID II. ESMA is also obliged to include in the report data on criminal sanctions imposed under MiFID II (provided Member States have chosen to lay down criminal sanctions for MiFID II/MIFIR infringements). The report contains information on the sanctions and measures (including criminal sanctions) imposed by NCAs in accordance with Article 70(1) of MiFID II from 1 January 2019 to 31 December 2019. The report also contains an overview of the applicable legal framework, including the sanctions and measures foreseen.