Germany – BaFin Imposes Fine for Late Shareholding Disclosure

Germany – BaFin Imposes Fine for Late Shareholding Disclosure

On 12 October 2020, GE BaFin imposed share threshold publishing breach.

  • BaFin announced that on 7 October  2020, it imposed €600,000 fine on Covestro AG.
  • For violation of section 130 paragraph 1 of the Administrative Offenses Act (OWiG) together with section 40, paragraph 1, clause 2 of the Securities Trading Act (WpHG).
  • Imposed due to Covestro AG not publishing threshold for treasury shares in good time.

Next Steps

  • The company can appeal against the fine.