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Part B Commentary, 5 Administrative Measures and Sanctions, Art.30: Administrative sanctions and other administrative measures

Edited By: Marco Ventoruzzo

From: Market Abuse Regulation: Commentary and Annotated Guide (2nd Edition)

Edited By: Marco Ventoruzzo, Sebastian Mock

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2023. All Rights Reserved.date: 14 July 2024

Enforcement — Market abuse — Market Abuse Directive (MAD) — Regulated activities — Statutory duty — European Securities and Markets Authority (ESMA)

This chapter discusses Article 30 and its aims to a greater harmonization of the sanctioning regimes. Article 30(1) starts off by repeating the (former) Market Abuse Directive (2003/6/EC) requirement that Member States ensure that competent authorities have the power to take ‘appropriate administrative sanctions and other administrative measures’. It goes on to specify for which infringements of the MAR such sanctions must be provided. Article 30(2) details the sanctions and measures that must at least be available to the national competent authorities for all breaches referred to in the rest of this chapter. Finally, Article 30(3) clarifies that Member States may provide for additional powers and more severe sanctions than those established in Article 30.

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