BaFin - Federal Financial Supervisory Authority of Germany
BaFin - Federal Financial Supervisory Authority of Germany
11/23/2022 | Press release | Distributed by Public on 11/23/2022 06:16
Landesbank Baden-Württemberg: BaFin imposes administrative fine
Erscheinung:23.11.2022 | Topic MeasuresLandesbank Baden-Württemberg: BaFin imposes administrative fine
On 10 November 2022, BaFin imposed an administrative fine amounting to 498,000 euros on Landesbank Baden-Württemberg.
The sanction related to a breach of section 130 (1) of the German Acton Breaches of Administrative Regulations (Ordnungswidrigkeitengesetz - OWiG) in conjunction with Article16(2) sentence 2 of the Market Abuse Regulation(MAR). Landesbank Baden-Württemberg failed to notify BaFin without delay that it had reasonable suspicion that an order in a financial instrument constituted insiderdealing.
The company may lodge an appeal against the administrative fine order.
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