On 12 November 2020, the European Securities and Markets Authority published its 2019 annual report on the use by Member State competent authorities (NCAs) of sanctions under the UCITS IV Directive.
This latest annual report is prepared in accordance with Article 99e(1) of the UCITS IV Directive. According to this article, NCAs shall provide ESMA annually with aggregated information regarding all penalties and measures imposed in accordance with Article 99 of the UCITS IV Directive. For the purpose of the annual report, only the penalties and measures issued under the UCITS IV Directive have been considered. Any infringement of delegated or implementing acts issued under that Directive or national provisions does not fall within the remit of the report, even where notified to ESMA by a relevant NCA.
The annual report contains information on the penalties and measures imposed by NCAs in accordance with Article 99e of the UCITS IV Directive from 1 January 2019 to 31 December 2019. Overall, 11 NCAs imposed a total of 43 penalties; the total aggregated value of financial penalties imposed amounted to around EUR 4,155,000. 9 NCAs imposed a total of 19 measures. 16 NCAs did not impose any sanction (penalty or measure) during the reference period.