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, announced Monday the regulator.
In a statement released today, notes the Lusa, 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 concerning 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.
Still in 2014, says the same statement, six were decided court cases, including one during the fourth quarter relating to the violation of duties related to the activity of collective investment schemes. Other nine are still pending decision, said the regulatory body.
“In late December, were in progress at the CMVM 119 administrative offense cases’ also indicates the same entity, adding that 36 violations of disclosure requirements, 32 for breach of financial intermediation duties, 30 for infringement in the activity of collective investment undertakings, 20 for breach of market trading duties and connected to the performance of auditors.
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