Germany – BaFin Fines for Late Shareholding Reporting

Germany – BaFin Fines for Late Shareholding Reporting

On 23 December 2020, GE BaFin fined Groupama130k for shareholding disclosure violations.

  • BaFin announced imposition of fine of €130k on Groupama Asset Management.
  • Groupama did not submit voting rights notifications on time, contrary to s 130(1) of the Administrative Offenses Act in conjunction with s 33(1) of Securities Trading Act.