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ESMA publishes third Sanctions Report detailing 2025 enforcement actions

The European Securities and Markets Authority (ESMA) has published its third Sanctions Report, detailing over 950 administrative sanctions imposed across the European Economic Area (EEA) in 2025, with a total value of nearly €82 million.

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ESMA published its third Sanctions Report on 15 October 2026. The report details over 950 administrative sanctions imposed in 2025, with a total value of nearly €82 million. It emphasizes the need for greater convergence in enforcement practices among member states.

The report is titled "Report on Sanctions and measures imposed in Member States in 2025" and is identified by document reference ESMA43-502934634-2902. It highlights significant disparities in enforcement, particularly regarding breaches of the Market Abuse Regulation and the Markets in Financial Instruments Directive.

The findings apply to national authorities across the European Economic Area (EEA) that imposed sanctions in 2025. Germany, France, and Spain accounted for two-thirds of the total value of administrative fines.

The report indicates an increased use of settlements and calls for stronger convergence in enforcement practices. ESMA aims to foster exchanges among national authorities to ensure consistent enforcement outcomes across the EU.

Source: ESMA, official publication, retrieved 2026-10-15

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