Greece’s Capital Market Commission has emerged as one of the most assertive financial regulators in the European Union this year, according to the latest annual sanctions report from the European Securities and Markets Authority (ESMA). In 2024, Greece issued 93 administrative sanctions and supervisory measures in the capital markets, placing it second in the EU—behind only Hungary, which recorded 182 actions.
What stands out is the emphasis on monetary penalties. Of the Greek cases, 78 percent resulted in fines, reflecting a firm stance toward market violations. Most of these sanctions involved breaches of the MiFID II and MiFIR regulatory frameworks, which govern the provision of investment services and the functioning of financial markets across Europe. In this specific category, Greece actually led the European Union, imposing 67 fines over the course of the year.
Greek regulators also moved beyond monetary penalties, revoking three operating licenses—one of the strictest enforcement tools available to supervisory authorities. Additional sanctions were issued for violations of market-abuse rules, as well as regulations covering alternative investment funds, central securities depositories and crowdfunding platforms.
Across the EU as a whole, 975 administrative measures and sanctions were imposed in 2024, with total fines amounting to €100.2 million. While Greece ranks among the most active regulators by number of cases, France and Germany recorded the largest financial penalties in monetary terms.
