There may be differences in the number of cases in the various areas. This is a result of the reclassification which was based on changes to the matters at issue
During the first quarter of 2012, the CMVM (Comissão de Mercado de Valores Mobiliários) rendered decisions in 20 administrative infraction cases, whereof eight focused on the breach of market trading duties, five on the breach of disclosure duties, four on financial intermediation duties and three on collective investment schemes.
15 of said decisions were rendered for very serious administrative infractions and five for serious administrative infractions, totalling €1,235,000 worth in fines, six admonishments and three warning notices were issued.
In the same period, 36 administrative infraction proceedings were instituted, whereof 10 involved auditors' conduct, nine related to financial intermediation duties, seven related to the collective investment scheme activity, six to market trading duties and four on disclosure duties.
In the first quarter, five proceedings were decided in court, whereof four concerned breach of disclosure duties and one collective investment scheme activity. There are currently 14 court cases in progress.
At the end of March, there were currently 114 administrative infraction proceedings in progress at the CMVM, whereof 36 related to breach of financial intermediation duties, 27 for breach of market trading duties, 20 for breach of disclosure duties, 19 on the collective investment scheme activity and 12 for auditors' conduct
| Since 1st Jan |
1st Q
|
Since 1st Jan |
1st Q |
Since 1st Jan |
1st Q |
Since 1st Jan |
1st Q |
Since 1st Jan |
1st Q |
Since 1st Jan |
1st Q |
Since 1st Jan |
1st Q |
| The CMVM |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 1. Proceedings brought forward |
|
30 |
|
21 |
|
32 |
|
15 |
|
2 |
|
0 |
|
100 |
| 2. Proceedings instituted |
6 |
6 |
4 |
4 |
9 |
9 |
7 |
7 |
10 |
10 |
0 |
0 |
36 |
36 |
| 3. Proceedings investigated but not instituted |
1 |
1 |
0 |
0 |
1 |
1 |
0 |
0 |
0 |
0 |
0 |
0 |
2 |
2 |
| 4. Proceedings decided |
8 |
8 |
5 |
5 |
4 |
4 |
3 |
3 |
0 |
0 |
0 |
0 |
20 |
20 |
5. Proceedings
in progress |
|
27 |
|
20 |
|
36 |
|
19 |
|
12 |
|
0 |
|
114 |
| The Courts |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 6. Proceedings decided |
0 |
0 |
4 |
4 |
0 |
0 |
1 |
1 |
0 |
0 |
|
0 |
5 |
5 |