The Securities Market Commission (MEC) closed nine counter-ordering proceedings in 2025, where 10 fines and a total admonition were imposed, amounting to EUR 148,750.
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28/09/2026
by
Lusa
Sthe report published today on the “Global results of the audit quality control system for Cycle 2025/2026”, following the decisions made in 2025, 10 fines were imposed, with a total amount not suspended of EUR 148,750 (nine fines in 2024 and eight fines in 2023 and one admonition.
The decisions of 2025 concerned nine counter-ordering procedures for eleven defendants, with a total of 107 counter-orders: 35 very serious, 57 serious, seven minor or less serious and eight provided for in the legislation.
The very serious counter-ordinations focused on issues related to independence and serious evidence documentation and the exercise of professional skepticism, said Inês Drumond, Vice-President of the CMVM Board of Directors, in presenting the report in Lisbon.
As regards international comparisons with the amount of fines, the person responsible pointed out that “there is no harmonisation at European level and the differences that exist must be seen because audit markets and size are quite different”.
In addition, the very sequence between supervisory and sanctioning activities may also have differences between countries, as follows from national law, he added.
According to the report, 112 supervisory activities were opened in cycle 2025/2026, compared with 46 in the previous year, and 85 closed (face to 52 in the homologous period).
In the closed actions, 22 significant irregularities and 159 other irregularities were found.