European trends in market abuse and trade surveillance
Published October 2025
Reflecting on the findings from our previous trade surveillance reports, one thing is abundantly clear: regulatory enforcement is speeding up.
eflow’s latest report considers the European enforcement enforcement action taken by regulators in 2024, evaluates new and continued trends, and makes a series of predictions on how the regulatory landscape is likely to change in the coming years.
What does the report cover?
To better understand this issue, eflow commissioned independent researchers that specialise in financial regulation to undertake analysis of European enforcement action. Here are some of the key points covered by the research:
Quantitative analysis
Analysis of market abuse enforcement in 2024 compared to previous years
Case studies
Key enforcement case studies showing how European regulators are responding to abusive trading
Europe vs. the world
Analysis of how European regulatory enforcement compares to other jurisdictions
Professional insights
Thoughts and insights from 300+ surveillance and compliance professionals from Europe and around the globe
Predictions
Our experts share their thoughts on how the regulatory landscape will evolve amidst political, economic and social turbulence
New technologies
An examination of how both regulators and regulated firms are utilizing and adapting to new technologies such as AI and digital assets
Download the report:
European enforcement overview
- In 2024 alone, European regulators issued 22 market abuse fines totalling $117m.
- The AMF was Europe’s most prolific regulator in terms of both volume of enforcement actions taken, issuing 11 penalties - 50% of the total .
- The FCA issued the highest value of total of fines, issuing $52m of financial penalties
- The vast majority of fines (93.3%) were issued for failures related to trade surveillance systems and controls.