2.

When taking the decisions referred to in paragraph 1, ESMA shall take into account the nature and seriousness of the infringement, having regard to the following criteria: the duration and frequency of the infringement; whether the infringement has revealed serious or systemic weaknesses in the undertaking’s procedures or in its management systems or internal controls; whether financial crime has been occasioned, facilitated or otherwise attributable to the infringement; whether the infringement has been committed intentionally or negligently.

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Source: EUR-Lex (Cellar) · retrieved 2026-09-25 · Text as adopted (Official Journal); later amendments are not incorporated in this text.