Topic Measures Publication of financial reports: Federal Office of Justice imposes disciplinary fine against KREMLIN AG
On 17 August 2017, the Federal Office of Justice (Bundesamt für Justiz – BfJ) imposed a disciplinary fine amounting to 2,500 euros against KREMLIN AG.
The disciplinary fine order related to a breach of section 325 of the German Commercial Code (Handelsgesetzbuch – HGB) by KREMLIN AG. KREMLIN AG had failed to submit its accounting documents for the financial year 2015 for the purpose of disclosure to the operator of the German Federal Gazette (Bundesanzeiger) in electronic form within the prescribed period. The legal basis for the sanction is section 335 of the HGB.
On 24 August 2017 the company lodged a complaint against the disciplinary fine order.