Article 25

The competent authorities shall apply the administrative sanctions and measures referred to in Article 24(2) taking into account all relevant circumstances including, where appropriate: the gravity and the duration of the infringement; the degree of responsibility of the person responsible for the infringement; the impact of the infringement on retail investors' interests; the cooperative behaviour of the person responsible for the infringement; any previous infringements by the person responsible for the infringement; measures taken after the infringement by the person responsible for the infringement to prevent its repetition.

← art_24__para_4__text_1 · All articles · art_25__text_1 →

Source: EUR-Lex (Cellar) · retrieved 2026-10-30 · Text as adopted (Official Journal); later amendments are not incorporated in this text.