Erscheinung:18.12.2020, Stand:updated on 10.01.2025 | Topic Measures Quirin Privatbank AG: BaFin imposes administrative fine
On 8 December 2020, BaFin imposed an administrative amounting to 210,000 euros on Quirin Privatbank AG.
The sanction related to a breach of section 130 (1) of the German Act on Breaches of Administrative Regulations (Ordnungswidrigkeitengesetz – OWiG) in conjunction with section 64 (3) sentence 2 of the German Securities Trading Act (Wertpapierhandelsgesetz – WpHG).
Quirin Privatbank AG carried out transactions in the course of portfolio management that were not appropriate for the clients on the basis of the information obtained.
On 14 December 2020 the company lodged an appeal against the administrative fine order.
Update (10.01.2025):
The outcome of the oral hearing was a judgment imposing a fine of 210,000 euros on Quirin Privatbank AG. The judgment was issued by the Frankfurt am Main Local Court (Amtsgericht Frankfurt am Main) on 3 May 2023 following a discussion of the facts of the case and the legal situation. The judgment is final and binding.
