German financial regulator imposes EUR250k coercive fines on Electrawinds SE

ISC Bank

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.