ESMA publishes 2022 UCITS and AIFMD sanction reports

ESMA has published its 2022 reports on the use of sanctions by NCAs under UCITSD and AIFMD.
Some highlights from the reports:
– UCITS sanctions: In 2022, 9 NCAs imposed a total of 38 penalties with over €97 million, compared to 61 penalties issued by 12 NCAs in 2021. AMF accounted for 98% of the total amount of penalties, and 16 NCAs did not impose any sanctions.
– AIFMD sanctions: In 2022, 10 NCAs issued 128 penalties totaling €2.5 million, significantly lower than the €42.9 million in penalties imposed in 2021. AMF was responsible for 60% of the total penalties. 16 NCAs did not impose any sanctions under either the UCITS Directive or the AIFMD during this period.
The reports provide an overview of the legal framework and information on the penalties and measures imposed by NCAs from 1 January 2022 to 31 December 2022. ESMA aims to foster supervisory convergence in the application of the UCITS Directive and AIFMD to develop a common EU outcome-focused supervisory and enforcement culture.