Pecuniary sanctions against corporations in the financial sector: a compounding of dubious upper limits

Authors

  • Suzan Denise Hüttemann

DOI:

https://doi.org/10.46941/2021.se1.72-87

Keywords:

Financial sector, corporate sanctions, German Securities Trading Act, multiplicative pecuniary sanctions, guilt principle

Abstract

This contribution covers the methods by which the maximum amount of pecuniary sanctions against corporations in the financial sector is determined. The alternative recourse to absolute, turnover-based and profit-based upper limits combines problematic regulatory developments of recent times. This contribution advocates for a systematic approach that differentiates strictly between the confiscatory and the sanctioning part; the upper limit of the sanctioning part should be determined by the abstract gravity of the violation.

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Published

2021-12-22

How to Cite

Hüttemann, S. D. (2021). Pecuniary sanctions against corporations in the financial sector: a compounding of dubious upper limits. European Integration Studies, 17(1), 72–87. https://doi.org/10.46941/2021.se1.72-87