emendrix

Art. 48f

Benchmarks Regulation · 32016R1011 · every event for this act · on EUR-Lex

Fines

2 changes recorded across 2 events, newest first.

in force 2026-01-01 MODIFIED+139 −12

Amended by Regulation (EU) 2025/914 32025R0914

applies from: unchanged

Paragraph 1 now also covers any failure to cooperate or comply in an investigation or with an inspection or request covered by Section 1 of the Chapter, in addition to the infringements already listed in Article 42(1), point (a).

The remainder of Article 48f, including the fine amounts and criteria in paragraphs 2 through 5, is unchanged between the two versions.

Cited: Art. 48f, v2 · Art. 48f, v1

text before / after

02016R1011-20250117 → 02016R1011-20260101

Article 48f Fines 1. Where, in accordance with Article 48i(5), ESMA finds that any person has, intentionally or negligently, committed one or more of the infringements listed in point (a) of Article 42(1), point (a), or any failure to cooperate or comply in an investigation or with an inspection or request covered by Section 1 of this Chapter, it shall adopt a decision imposing a fine in accordance with paragraph 2 of this Article. An infringement shall be considered to have been committed intentionally if ESMA finds objective factors which demonstrate that a person acted deliberately to commit the … 345 unchanged words … act or omission of a person constitutes more than one infringement listed in point (a) of Article 42(1), only the higher fine calculated in accordance with paragraph 2 of this Article and relating to one of those infringements shall apply.

in force 2022-01-01 INSERTED

Amended by Regulation (EU) 2019/2175 32019R2175

applies from: unknown (an inserted provision states its own application date only in prose)

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.

This is a newly inserted provision setting out fines that ESMA may impose on a person found, intentionally or negligently, to have committed one of the infringements listed in point (a) of Article 42(1), including maximum amounts for legal and natural persons and rules for calculating those amounts and their aggregation across multiple infringements.

Cited: Art. 48f, v2

text before / after, on the event page →