Public statement relating to Enforcement Action between Central Bank of Ireland and Cantor Fitzgerald Ireland Limited

• Date: 27 February 2025

1

ENFORCEMENT ACTION

CENTRAL BANK OF IRELAND

and

CANTOR FITZGERALD IRELAND LIMITED

Cantor Fitzgerald Ireland Limited fined €452,790 by the Central Bank of Ireland for breach of

the Market Abuse Regulation.

On 25 February 2025, the Central Bank of Ireland (the Central Bank) fined Cantor Fitzgerald

Ireland Limited (Cantor or the Firm) €452,790 pursuant to the European Union (Market Abuse)

Regulations 2016 (S.I. No. 349 of 2016) (the 2016 Regulations), for a breach of Cantor’s

obligations under Article 16(2) of the Market Abuse Regulation (596/2014/EU) (MAR).

Cantor failed on a number of occasions to report identified suspicious transactions that may

have indicated market abuse to the Central Bank. Cantor failed to put in place effective

governance arrangements to detect and report suspicious orders and transactions that may

have indicated market abuse. Cantor also failed to consistently document its analysis as to

whether it considered certain orders and transactions to be suspicious and failed to consistently

escalate suspicious transactions internally – during a period of over 6 years between March

2017 and June 2023. Cantor has admitted to the breach.

The Central Bank has determined the appropriate fine to be €646,840, which was reduced by

30% to €452,790 by way of a settlement discount.

Colm Kincaid, the Central Bank’s Director of Enforcement, has commented as follows:

“Under Article 16 of the Market Abuse Regulation, firms are required to identify and report to the

Central Bank any suspicious transactions or orders (STORs) that may indicate potential market abuse.

This legal requirement is a key safeguard in our system to protect securities markets from abuse and

firms must have processes in place that are effective to ensure STORs are reported. The Central Bank

has issued clear guidance to firms on this matter and we will continue to enforce compliance with these

important requirements.