[ESMA81-168987738-671 ] Report on sanctions imposed under the Benchmarks Regulation in 2022

The report by ESMA on Administrative Sanctions and Measures and Criminal Sanctions under the Benchmarks Regulation in 2022 is the second annual report under the Benchmarks Regulation. In 2022, the report reveals that one administrative sanction and one administrative measure were imposed by two NCAs for infringements of the Benchmarks Regulation, with no criminal sanctions reported. The low number of sanctions in 2022 limits the ability to observe clear trends. The report aims to enhance transparency and compliance conduct by providing aggregated information on all administrative sanctions and measures imposed by NCAs and data on criminal sanctions.
The regulatory framework, as outlined in Article 45 Benchmarks Regulation, mandates NCAs to annually provide ESMA with aggregated information on administrative sanctions and measures and data on criminal sanctions. The detailed provisions include orders, disgorgement, public warnings, withdrawal/suspension of authorization, and pecuniary sanctions.
The report provides an overview of sanctions imposed by NCAs in 2022, highlighting that a total of two administrative sanctions and measures were imposed by two NCAs on a supervised entity (user of benchmarks) and a supervised contributor. No criminal sanctions were imposed in the specified period. The detailed overview focuses on Germany and Luxembourg, with Germany imposing an administrative measure on a contributor for non-compliance with Benchmarks Regulation articles, and Luxembourg imposing an administrative sanction on a supervised entity for non-compliance with Benchmarks Regulation articles.
Concluding observations summarize aggregated figures on sanctions issued during 2020-2022, indicating that no sanctions were imposed on benchmark administrators during this period.