The World Motor Sport Council (WMSC) has agreed on a tweak to the International Sporting Code (ISC) meaning Formula 1 drivers can now be fined up to one million euros.
At the meeting in Geneva chaired by FIA President Mohammed Ben Sulayem, it was noted that the maximum €250,000 fine that could be handed out to drivers by stewards for violations of the code "did not reflect the current needs of motorsport."
The decision now means that the stewards - who act independently from the FIA - can now impose fines of up seven figures on Grand Prix competitors, including drivers, teams and even events themselves, with the last update 12 years ago.
While F1 competitors may be fined up to €1,000,000, it is not the same across all FIA World Championships.
World Endurance, Formula E, World Rally, World Rally-Raid and World Rallycross competitors may incur fines of up to €750,000 while the upper limit is imposed at €500,000 for all other championships and series.
Elsewhere, the WMSC has moved to prohbit the use of pyrotechnics at FIA events - following a rise in their use by fans at Grands Prix.
Flares have been set off with smoke drifting across the track at races, while at the 2022 Dutch Grand Prix, some specatators even threw them onto the track.
"In October 2022, the Council of the European Union stressed the need to prevent and counter the use of pyrotechnics at sports venues," explained the FIA's statement.
"Following review of the situation in motor sport, it has been concluded that the unauthorised use of all pyrotechnical devices at races can pose significant public health and safety risks and, as such, should be prevented and countered.
"The World Council therefore approved new provision and definition in the ISC prohibiting the unauthorised possession and use of pyrotechnics at FIA competitions."