On 13 June 2025, GE BaFin issued €600,000 voting right notification fine.
- GE BaFin announced it had imposed two fines totalling €600,000 on Innovestica Holdings Inc., in a decision dated 6 June 2024, for voting rights notification violations.
- The obligation to notify voting rights serves to promotes capital market transparency and strengthens investor confidence in the functioning of the German stock market.
Violations
- Innovestica Holdings Inc failed to submit voting rights notifications within four trading days, as per s 33(1)(1) of German Securities Trading Act (WpHG), substantial shareholding.
- Shareholders must use a mandatory notification form to submit their voting rights notification, per s 12(1) of the Securities Trading Notification Ordinance (WpAV).
- For legal entities, BaFin's fine may not exceed €10mn or up to 5% of total sales.
