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BOE-A-2026-1909 ·26 January 2026 ·Resolution Low impact
Tax

CNMV imposes €90,000 fine on individual for market manipulation

The CNMV has imposed a fine of 90,000 euros on Mr José Luis Vallejo Pizarro for committing a serious market manipulation offence (Art. 297.1.c in conjunction with Art. 297.2.b of Law 6/2023). The infringement involved market manipulation practices concerning shares of Singular People, SA, carried out over 34 sessions during 2023, in violation of Regulation (EU) No 596/2014 on market abuse.

In 2 key points

  1. €90,000 fine for a serious market manipulation offence (Resolución de 18 de diciembre de 2025)
  2. Infringement classified under Art. 297.1.c) and 297.2.b) of Law 6/2023 (art. 297.1.c), en relación con el 297.2.b), ambos de la Ley 6/2023)

How it affects those involved

For the sanctioned party, the resolution is final through administrative channels following their waiver of the right to appeal, leaving only the option of judicial review before the National High Court. For the market, the resolution confirms the CNMV's enforcement actions against market manipulation conduct involving specific securities.

Lifecycle

2026-01-26PublishedPublished in the BOE
Official text Based on BOE data (boe.es). Information, not advice.

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This analysis is informational only and does not constitute legal advice or create a client-adviser relationship. BM Consulting.
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