Member States must, without prejudice to criminal penalties and the supervisory and investigative powers in Article 94, ensure competent authorities can impose administrative penalties for the infringements listed at points (a)–(f): Articles 4–14; 16, 17, 19, 22, 23, 25; 27–41; 46–47; 48–51, 53–55; 59, 60, 64 and 65–83; 88–92; and failure to cooperate under Article 94(3). Member States may decline to lay down administrative rules where those infringements are criminalised by 30 June 2024, subject to detailed notification to the Commission, ESMA and EBA; all rules and subsequent amendments must be notified by 30 June 2025 and thereafter without delay.

Competent authorities must have powers, in accordance with national law, to publish public statements, order cessation of conduct, disgorge profits, withdraw or suspend authorisations, impose temporary bans on management or dealing on own account, and impose fines. Minimums include for natural persons at least twice the profits or EUR 700 000 generally and specified higher minima for Articles 88–92; for legal persons at least EUR 5 000 000 or prescribed percentages of turnover (3%, 5%, 12.5% by infringement category) and specified higher amounts or 2%/15% of turnover for Articles 88–92; consolidated turnover applies where relevant. Member States may provide additional powers or higher penalties.