Erscheinung:11.08.2022, Stand:updated on 25.08.2022 | Topic Measures Bank of America Corporation: BaFin imposes administrative fine
On 2 August 2022, BaFin imposed an administrative fine amounting to 5,100,000 euros on Bank of America Corporation.
The sanction related to a breach of section 130 (1) of the German Act on Breaches of Administrative Regulations (Ordnungswidrigkeitengesetz – OWiG) in conjunction with sections 33 (1) sentence 1, 38 (1) sentence 1 and 39 (1) of the German Securities Trading Act (Wertpapierhandelsgesetz – WpHG). Bank of America Corporation failed to submit voting rights notifications within the prescribed period.
The company may lodge an appeal against the administrative fine order.
Update (25.08.2022):
The administrative fine order is final and binding.
