BaFin

Topic Measures Publication of measures

Measures BaFin imposes on undertakings subject to supervision under the Insurance Supervision Act (Versicherungsaufsichtsgesetz – VAG) and their senior management

BaFin publishes on its website certain measures and administrative fine decisions imposed on undertakings subject to supervision under the VAG or their senior management. The basis for publication is section 319 (1) of the VAG.

The publication of sanctions including administrative fine decisions aims to generally help prevent breaches by informing the public and market participants what behaviour is considered a breach by BaFin.

Publication of measures and administrative fine decisions on an anonymous basis

Subject to certain conditions stipulated in section 319 (2) sentence 1 numbers 2-3 of the VAG, BaFin publishes measures and administrative fine decisions on an anonymous basis. This applies, for example, if publication would cause disproportionate damage to the undertaking involved.

updated on 01.01.2016

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Publications on this topic

Pub­li­ca­tion of fi­nan­cial re­ports: Fed­er­al Of­fice of Jus­tice im­pos­es dis­ci­plinary fine against Trav­el24.com AG

On 10 July 2017, the Federal Office of Justice (Bundesamt für Justiz – BfJ) imposed a disciplinary fine amounting to 2.500 euros against Travel24.com AG.

Chi­na Spe­cial­ty Glass AG: BaFin im­pos­es co­er­cive fines

On 28 November 2017 BaFin imposed coercive fines in the amount of EUR 282,500 on China Specialty Glass AG.

SKW Stahl-Met­al­lurgie Hold­ing AG: BaFin im­pos­es ad­min­is­tra­tive fine

On 23 November 2017, BaFin imposed an administrative fine amounting to 668,000 euros against SKW Stahl-Metallurgie Holding AG.

Bank Sep­ah–Iran, Frank­furt Branch: BaFin im­pos­es lend­ing pro­hi­bi­tion

On 12 September 2017, the Federal Financial Supervisory Authority (Bundesanstalt für FinanzdienstleistungsaufsichtBaFin) issued an order to Bank Sepah-Iran, Frankfurt Branch, prohibiting the institution from lending until further notice. BaFin had identified contraventions of re-quirements for a proper business organisation within the meaning of sec-tion 25a (1) of the Banking Act

Alexan­der­w­erk AG: BaFin im­pos­es ad­min­is­tra­tive fine

On 1 November 2017, BaFin imposed an administrative fine amounting to 94,500 euros against Alexanderwerk AG.

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