Topic Measures Mars One Ventures AG: BaFin imposes coercive fines
On 24 May 2018 BaFin imposed coercive fines in the amount of EUR 172,500 on Mars One Ventures AG.
As BaFin made public Mars One Ventures AG offended against the financial reporting requirements pursuant to 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.
Update (03 July 2018):
On 26 June 2018 the company has filed an appeal against the imposed coercive fines.