Austria – FMA Fines for Late Notification on Shareholding Structure

Austria – FMA Fines for Late Notification on Shareholding Structure

On 27 September 2024, AUT FMA imposed penalties on firms for late notifications.

  • AUT FMA imposed penalties against EVAX Holding GmbH (Evax) in liquidation, EUROVEA Services, s.r.o. (Eurovea) and another reportable person for violations.
  • Specifically, those involved violated the Austrian Stock Exchange Act 2018.

Reporting Requirements

  • Companies and person made criminal decisions by way of accelerated termination of proceedings, as per s. 22(2b), Financial Market Supervisory Authority Act (FMABG).
  • These were for late notifications by the undercutting of participation limits pursuant to Sections 130 et seq. of the Austrian Stock Exchange Act 2018, according to AUT FMA.
  • Specifically, Evax, Eurovea, and the person subject to the reporting obligation failed to notify AUT FMA, the stock exchange company and issuer (S-Immo AG) in due time.
  • Failed to notify that voting rights and total share thresholds were not reached.
  • In case of investment publicity as per ss. 130 et seq. of the Austrian Stock Exchange Act 2018, the market is to be informed about the issuer's shareholding structure.

Penalties

  • AUT FMA imposed fines of €72,800 on Evax, and Eurovea respectively.
  • The reportable person unnamed was given a fine of €14,400 by AUT FMA.
  • According to AUT FMA, the sentences in this decision are final.