The Securities Market Commission (CMVM) applied 4,617,550 euros in fines during the fourth quarter of 2014, bringing the total for the year to 5.025 million euros, today announced the regulatory authority.
In a statement released today, the CMVM states that between October and December issued a decision in seven administrative offense cases, a total of 23 cases for the year 2014.
Of these seven cases for the fourth quarter, three were in breach of the duties associated with the activity of collective investment schemes, other three on financial intermediation activity and linked to market trading.
On the other hand, in the last three months of 2014 to CMVM initiated 16 administrative offense proceedings, totaling 39 cases brought over 2014.
Of the 16 cases brought before the last quarter, half (eight) were motivated by the breach of market information duties. The realization of infringement under the activity of collective investment schemes led to other five cases, while in two there was infringement on the trading market and in another case, there was a breach of financial intermediation duties.
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