Germany – BaFin Fines for Voting Rights Failure

Germany – BaFin Fines for Voting Rights Failure

On 13 July 2022, GE BaFin fined the firm €11mn for reporting, voting breaches.

  • GE BaFin fined Steinhoff International Holdings NV €11,290,000 following its failure to make the 2016/17 annual financial report available to the public in good time.
  • Steinhoff also did not publish voting rights notifications in good time.
  • Ge BaFin fined the firm for breaching s. 114(1) sentence 1 of Securities trading act (WpHG), s. 130(1) of Administrative offenses act (OWiG), s. 40 (1) sentence 1 WpHG.