Topic Information obligations for issuers Legal consequences of violations of the publication, transmission and notification obligations
Article from Issuer Guidelines published by the Federal Financial Supervisory Authority
Intentional or negligent violations of the requirements under sections 40, 41 and 46 of the WpHG are administrative offences under section 120 of the WpHG. Under section 120 (4) of the WpHG, the relevant fines are up to 500,000 euros for individual violations of the designated publication and transmission requirements, and up to ten million euros for individual violations of the designated notification obligations.