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

Elec­trawinds SE: BaFin threat­ens co­er­cive fines

On 29 June 2017 BaFin ordered Electrawinds SE to comply with the financial reporting requirements pursuant to sections 37v et seq. of the Securities Trading Act (Wertpapierhandelsgesetz – WpHG) and threatened coercive fines in the amount of EUR 230,000.

Pub­li­ca­tion of fi­nan­cial re­ports: Fed­er­al Of­fice of Jus­tice im­pos­es dis­ci­plinary fine against Agen­nix AG

On 6 September 2016, the Federal Office of Justice (Bundesamt für Justiz - BfJ) imposed a disciplinary fine amounting to 12,500 euros against Agennix AG.

East-West As­seku­ranz AG: BaFin files pe­ti­tion to open in­sol­ven­cy pro­ceed­ings

On 14 June 2017 the Federal Financial Supervisory Authority (Bundesanstalt für FinanzdienstleistungsaufsichtBaFin) filed a petition to open insolvency proceedings for the assets of East-West Assekuranz AG at the Local Court (Amtsgericht) of Charlottenburg (Berlin). The management board had earlier notified BaFin of the insurer's overindebtedness pursuant to section 311 (1) sentence 2 of the …

Stock­holm IT Ven­tures AB: BaFin threat­ens co­er­cive fines

On 8 June 2017 BaFin ordered Stockholm IT Ventures AB to comply with the financial reporting requirements pursuant to sections 37v et seq. of the Securities Trading Act (WertpapierhandelsgesetzWpHG) and threatened coercive fines in the amount of EUR 402,500.

Pub­li­ca­tion of fi­nan­cial re­ports: Fed­er­al Of­fice of Jus­tice im­pos­es dis­ci­plinary fine against Fritz Nols AG

On 4 January 2017, the Federal Office of Justice (Bundesamt für Justiz - BfJ) imposed a disciplinary fine amounting to 2,500 euros against Fritz Nols AG.

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