BaFin

Topic Measures Electrawinds SE: BaFin imposes coercive fines

Date: 28.03.2018

On 20 March 2018 BaFin imposed coercive fines in the amount of EUR 172,500 on Electrawinds SE.

As BaFin communicated Electrawinds SE offended against section 37w (1) in conjunction with section 37y number 2 (new: section 115 (1) in conjunction with section 117 number 2) 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).

The order is enforceable but not yet final and conclusive.

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