Správne trestanie na finančnom trhu (vybrané problémy trestania poriadkových deliktov subjektov finančného trhu)
Administrative Punishment in the Financial Market (Selected Challenges of Punishing Procedural Offenses Committed by Financial Market Participants)

Summary/Abstract: The submitted article concerns the topic of administrative punishment in the field of Slovak financial market regulations, placing emphasis on punishing the so-called “administrative procedural offences”. The article stems from the main hypothesis that the respective substantive legal regulation in the insurance sector in Slovakia, that is to say, the Slovak Insurance Act, allows the supervisory authority to impose sanctions for violations of a purely procedural nature (which – in effect – constitute administrative procedural offences), even in the decisions on merits. In the event that such hypothesis is confirmed, the author puts forward legal observations that should guide the supervisory authority towards the optimal choice of the sanctioning regime, i.e., to choose either to impose a procedural fine pursuant to procedural sanctioning provisions or to impose a meritorious sanction. At the same time, the aim of the article is to outline the differences in theory and practice between a substantive offence and a procedural offence and to highlight associated problematic areas of punishing procedural offences in the financial market.

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