<!-- headlesslaw {"release":{"id":"a4f2a0495fe55b47323883f82977a9b34ab66171ec9623e39925d3a7045b6c81","published":"2026-11-01T16:41:30Z","pinned":false},"limits":{"coverage":{"history":"from:2023-03-23","held_since":"2023-03-23","gaps":[],"covered":["MiFID II L1"],"not_covered":["national guidance","court decisions"]},"freshness":{"release_id":"a4f2a0495fe55b47323883f82977a9b34ab66171ec9623e39925d3a7045b6c81","release_published":"2026-11-01T16:41:30Z","checked_at":"2026-09-28","checked_against":"EUR-Lex"},"truncation":null,"failures":[],"incomplete":[]},"page":{"path":"/mifid-ii/recitals/142","url":"https://www.headlesslaw.com/mifid-ii/recitals/142","title":"Recital 142","family":"l1_recital_view","work_id":"mifid2","view_of":"/mifid-ii/recitals","status":"in_force","force_status":"in_force","date_state":"current","requested_date":null,"as_of":"2026-11-01","applies_from":null,"application":null,"version_label":"Directive 2014/65/EU, OJ L 173, 12.6.2014","check":{"against":"EUR-Lex","on":"2026-09-28"},"check_result":"matched","official_url":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32014L0065","valid_from":"2023-03-23","valid_until":null,"content_id":"72abb6b37d8501cb","versions":["2023-03-23"],"version_url":"https://www.headlesslaw.com/mifid-ii/recitals/142/versions/2023-03-23","revision_url":"https://www.headlesslaw.com/mifid-ii/recitals/142/versions/2023-03-23/rev/72abb6b37d8501cb","versions_url":"https://www.headlesslaw.com/mifid-ii/recitals/142/versions","relations_url":"https://www.headlesslaw.com/mifid-ii/recitals/142/relations","act_url":"https://www.headlesslaw.com/mifid-ii/recitals","source_line":null,"attribution":null,"context":{"act":{"work_id":"mifid2","path":"/mifid-ii/recitals","name":"MiFID II","number":"Directive 2014/65/EU","celex":"32014L0065","title_official":null,"document_date":null},"position":{"kind":"recital","key":"142","index":142,"articles":170,"annexes":0},"prev":{"path":"/mifid-ii/recitals/141","key":"141","title":"Recital 141"},"next":{"path":"/mifid-ii/recitals/143","key":"143","title":"Recital 143"},"act_anchor":""}}} -->
# Recital 142

*In force · Directive 2014/65/EU, OJ L 173, 12.6.2014 · Checked against EUR-Lex on 28 Sep 2026 · [Official source](https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32014L0065)*

In particular, competent authorities should be empowered to impose fines which are sufficiently high to offset the benefits that can be expected and to be dissuasive even for larger institutions and their managers.
