Topic Measures Mars One Ventures AG: BaFin imposes coercive fines
On 23 October 2017 BaFin imposed coercive fines in the amount of EUR 230,000 on Mars One Ventures AG.
As BaFin communicated Mars One Ventures AG offended against section 37v (1) in conjunction with section 37y number 1 of the 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.