BaFin, Germany’s top financial services regulator said it has imposed EUR250,000 coercive fines on Electrawinds SE.
The agency said Electrawinds SE offended against section 37v (1) sentences 1, 2, 3 and 4 in conjunction with section 37y number 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.
The order is enforceable but not yet final and conclusive.