BaFin, Germany’s top financial regulator said it is imposing EUR140,000 on Wild Bunch AG.
The decision is a follow-up to an earlier statement released that Wild Bunch AG offended against 37v (1) sentences 2 and 3 and section 37w (1) 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). This notice is published pursuant to section 40c of the WpHG.
BaFin said the order is enforceable but not yet final and conclusive.