Compliance Radar
Who was sanctioned, and for what?
Fines, court rulings and incidents from Europe and North America: 756 cases from 32 jurisdictions, each with an official source and checked against that source before publication. Filter by country, area of law and sector. Click a chart to drill down one level.
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Where?
by authority- Autorité des marchés financiers (AMF), Commission des sanctions €2.94m 100 % · 3 cases
What for?
by topicWho?
by sectorAll sectors
When?
per quarter, by date of decision| Period | Cases | Total |
|---|---|---|
| Q3 2023 | 0 | — |
| Q4 2023 | 0 | — |
| Q1 2024 | 0 | — |
| Q2 2024 | 0 | — |
| Q3 2024 | 1 | €420,000 |
| Q4 2024 | 0 | — |
| Q1 2025 | 1 | €800,000 |
| Q2 2025 | 1 | €1.72m |
| Q3 2025 | 0 | — |
| Q4 2025 | 0 | — |
| Q1 2026 | 0 | — |
| Q2 2026 | 0 | — |
| Q3 2026 | 0 | — |
3 cases
10 Jun 2025 SMCP SA; European TopSoho S.à r.l.; Dynamic Treasure GroupSMCP: threshold notifications missed, misleading announcement, inside information not protected €1.72m
In connection with the change of control at the fashion group SMCP in 2021/22, the major shareholder European TopSoho (ETS) and Dynamic Treasure Group failed to make threshold notifications; ETS also disseminated a misleading press release. SMCP itself failed to maintain the confidentiality of inside information. Sanctions imposed by the Enforcement Committee of France's financial markets authority (Autorité des marchés financiers, AMF): Chenran Qiu 1 million EUR, ETS 400,000 EUR, DTG 300,000 EUR, SMCP 20,000 EUR.
Issuers must effectively shield inside information even when the conflict originates with the major shareholder.
Ensuring the confidentiality of inside information
- Authority / court
- Autorité des marchés financiers (AMF), Commission des sanctions
- Area of law
- Capital markets and financial supervision · Market abuse and insider dealing
- Legal basis
- Art. L. 233-7 Code de commerce; Art. 223-14 RG AMF; Art. 12 Abs. 1 lit. c MAR; Art. 2 Abs. 1 DVO (EU) 2016/1055
- Action
- Fine
- Status of proceedings
- under appeal
- Sector
- Retail and e-commerce
- Liability of senior managers
- Chenran Qiu: 1,000,000 EUR (ETS's infringements attributed to her)
- Décision SAN-2025-05 Decision of an authority
- Décision n° 5 du 10 juin 2025 (PDF) Decision of an authority
Checked against the official source on 25 Sep 2026 · Direct link
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20 Jan 2025 Pharnext SAPharnext: FDA setbacks disclosed late and glossed over €800,000
The biotech company did not disclose as soon as possible the FDA's request for an additional study on PXT-3003 and the subsequent rejection of an SPA application, and disseminated misleading communications to shareholders. Sanctions: Pharnext 500,000 EUR, former CEO Daniel Cohen 200,000 EUR, former CEO David Horn Solomon 100,000 EUR.
Negative feedback from regulatory authorities is regularly inside information and must not be given a positive spin in letters to shareholders.
- Authority / court
- Autorité des marchés financiers (AMF), Commission des sanctions
- Area of law
- Capital markets and financial supervision · Disclosure and reporting obligations
- Legal basis
- Art. 17 MAR; Art. 12 Abs. 1 lit. c und Art. 15 MAR
- Action
- Fine
- Status of proceedings
- under appeal
- Sector
- Chemicals and pharmaceuticals
- Liability of senior managers
- Daniel Cohen (co-founder, directeur général until April 2020): 200,000 EUR; David Horn Solomon (directeur général from April 2020): 100,000 EUR
- Décision SAN-2025-01 Decision of an authority
- Décision n° 1 du 20 janvier 2025 (PDF) Decision of an authority
Checked against the official source on 25 Sep 2026 · Direct link
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19 Jul 2024 Parrot SAParrot: misleading half-yearly report and insider dealing ahead of a takeover bid €420,000
In its 2018 half-yearly report, the drone manufacturer disseminated misleading information on the absence of impairment indicators for the drone division, on goodwill and on earnings; in addition, the deputy managing director used inside information about a planned takeover bid. Sanctions: Parrot 150,000 EUR, CEO Henri Seydoux 60,000 EUR, Gilles Labossière 210,000 EUR.
Impairment tests for loss-making divisions and trading bans for management are particularly sensitive in a takeover context.
Insider dealing ban for executives in connection with takeover plans
- Authority / court
- Autorité des marchés financiers (AMF), Commission des sanctions
- Area of law
- Capital markets and financial supervision · Market abuse and insider dealing
- Legal basis
- Art. 12 Abs. 1 lit. c, Art. 15 MAR; Art. 8 und 14 MAR
- Action
- Fine
- Status of proceedings
- unknown
- Sector
- Telecoms, IT and software
- Liability of senior managers
- Henri Seydoux (Président-directeur général): 60,000 EUR; Gilles Labossière (directeur général délégué): 210,000 EUR, including for insider dealing
- Décision SAN-2024-07 Decision of an authority
- Décision n° 7 du 19 juillet 2024 (PDF) Decision of an authority
Checked against the official source on 25 Sep 2026 · Direct link