emendrix

Art. 31

Market Abuse Regulation · 32014R0596 · every event for this act · on EUR-Lex

Exercise of supervisory powers and imposition of sanctions

2 changes recorded across 2 events, newest first.

in force 2026-06-05 MODIFIED+258 −28

Amended by Regulation (EU) 2024/2809 32024R2809

applies from: unchanged

Sources disagree — the text comparison and the amending act's instructions found this change; the EU's own amendment metadata does not list it. All are shown; none is overruled.

The introductory clause of paragraph 1 now adds that the relevant circumstances are to be taken into account in order to apply proportionate sanctions, a phrase absent from the earlier text.

Point (c) now refers to the annual personal income of a natural person, where the earlier version referred simply to the annual income of a natural person.

A new point (h) has been added, addressing the disadvantage for the person responsible for the infringement resulting from the duplication of criminal and administrative proceedings and penalties for the same conduct, with the connecting words between points (f), (g) and (h) adjusted accordingly.

Cited: Art. 31, v2 · Art. 31, v1

text before / after

02014R0596-2024120402014R0596-20260605

Article 31 Exercise of supervisory powers and imposition of sanctions 1. Member States shall ensure that when determining the type and level of administrative sanctions, competent authorities take into account all relevant circumstances, circumstances in order to apply proportionate sanctions, including, where appropriate: (a) the gravity and duration of the infringement; (b) the degree of responsibility of the person responsible for the infringement; (c) the financial strength of the person responsible for the infringement, as indicated, for example, by the total turnover of a legal person or the annual personal income of a natural person; (d) the importance of the profits gained or losses avoided by the person responsible for the infringement, insofar as they can be determined; (e) the level of cooperation of the person responsible for the infringement with the competent authority, without prejudice to the need to ensure disgorgement of profits gained or losses avoided by that person; (f) previous infringements by the person responsible for the infringement; and (g) measures taken by the person responsible for the infringement to prevent its repetition. repetition; and (h) the disadvantage for the person responsible for the infringement resulting from the duplication of criminal and administrative proceedings and penalties for the same conduct. 2. In the exercise of their powers to impose administrative sanctions and other administrative measures under Article 30, competent authorities shall cooperate closely to ensure that the exercise of their supervisory and investigative powers, and the administrative sanctions that they impose, and the other administrative measures that they take, are effective and appropriate under this Regulation. They shall coordinate their actions in accordance with Article 25 in order to avoid duplication and overlaps when exercising their supervisory and investigative powers and when imposing administrative sanctions in respect of cross-border cases.

in force 2024-12-04 MODIFIED

Amended by Regulation (EU) 2024/2809 32024R2809

applies from: unknown

Sources disagree — the EU's own amendment metadata and the amending act's instructions found this change; the text comparison finds no difference in the provision's text. All are shown; none is overruled.

No explanation shipped — the structural diff did not see this change, so it carries no text; another signal named the unit and the disagreement ships as `disputed`.

text before / after, on the event page →