BaFin

Topic Measures Fritz Nols AG: BaFin imposes coercive fines

Date: 07.08.2017, updated on 06.09.2017

On 27 July 2017 BaFin imposed coercive fines in the amount of EUR 335,000 on Fritz Nols AG.

As BaFin communicated Fritz Nols AG offended against sections 37v (1) sentence 2 and sentence 3 as well as 37w (1) of the Securities Trading Act (Wertpapierhandelsgesetz – WpHG). The legal basis for the imposition of coercive fines are section 17 (1) of the Act Establishing the Federal Financial Supervisory Authority (Finanzdienstleistungsaufsichtsgesetz – FinDAG) and sections 6 (1), 7 (1), 11 (1), 14 of the Act on Administrative Enforcement (Verwaltungsvollstreckungsgesetz - VwVG). This notice is published pursuant to section 40c of the WpHG.

The order is enforceable but not yet final and conclusive.

Update (06.09.2017):

On 31 August 2017 the company's authorized representative has filed an appeal against the imposed coercive fines.

Did you find this article helpful?

We appreciate your feedback

* Mandatory field

Additional information

More on this topic