Topic Measures Publication of financial reports: Federal Office of Justice imposes disciplinary fine against Vtion Wireless Technology AG
On 8 November 2017, the Federal Office of Justice (Bundesamt für Justiz – BfJ) imposed a further disciplinary fine amounting to 250,000 euros against Vtion Wireless Technology AG.
The disciplinary fine order related to a breach of section 325 of the German Commercial Code (Handelsgesetzbuch – HGB) by Vtion Wireless Technology AG. Vtion Wireless Technology 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 26 January 2018 the company lodged a complaint against the disciplinary fine order.