On 11 August 2022, GE BaFin fined Bank of America Corporation €5.1mn.
- GE BaFin said it imposed €5.1mn administrative fine on Bank of America Corporation for late shareholding disclosure.
- Penalty related to breach of section 130 (1), Act on Breaches of Administrative Regulations (OWiG), in conjunction with sections 33 (1) sentence 1, 38 (1) sentence 1 and 39 (1), Securities Trading Act (Wertpapierhandelsgesetz – WpHG).
- Bank of America failed to submit voting rights notifications within prescribed period.
- The company may lodge an appeal against the administrative fine order.