Part B Commentary, 5 Administrative Measures and Sanctions

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.