The CEER yesterday published this report on how well the various member states are doing in putting REMIT into law. Each country was to put REMIT into law by June last year. However many did not, and as can be seen from the report some still haven’t although the number is decreasing.

It also notes the variability of the implementations from country to country, with some only having civil sanctions and other with criminal sanctions. The UK is planning to introduce criminal sanctions for REMIT next year).

Also interesting is the variability in monitoring activity across countries, with some authorities having purchased monitoring software and hired teams to carry out monitoring, and others having done neither.

It would appear that the penalty for abusing the market will vary widely. Not only geographically, but also depending on whether the activity is covered by REMIT or MAR/MAD II.