What Are the Typical Penalties for Market Manipulation under MAR-like Frameworks?

Penalties for market manipulation, including front-running, under MAR-like frameworks are severe and designed to be dissuasive. They typically include substantial financial fines for both individuals and corporations, often calculated as a percentage of annual turnover or a fixed maximum amount.

Additionally, individuals may face criminal prosecution, resulting in imprisonment, and professional sanctions, such as bans from holding management positions in financial institutions.