Topic Measures Beate Uhse Aktiengesellschaft: BaFin threatens coercive fines
On 22 August 2017 BaFin ordered Beate Uhse Aktiengesellschaft 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 220,000.
Beate Uhse Aktiengesellschaft offended against the financial reporting requirements pursuant to section 37v (1) sentences 2 and 3 of the WpHG. The legal basis for the order and the threat of coercive fines are section 4 (2) sentence 1 of the WpHG in conjunction with section 17 sentence 1 of the Act Establishing the Federal Financial Supervisory Authority (Finanzdienstleistungsaufsichtsgesetz - FinDAG) and with sections 6 (1), 7 (1), 11 (1), 13 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.