Administrative fine proceedings can be concluded by a negotiated agreement (settlement). A specific condition for this is that the party concerned or the secondary participant actually committed the offence and admits it.
As a rule, a settlement expedites and shortens the administrative fine proceedings, which require complex investigations and significant resources. Additionally, it also results in particular in a reduction in the administrative fine (to be determined by BaFin) to the benefit of the party concerned. From the perspective of BaFin’s Securities Supervision, any reduction in the duration of the proceedings is a major factor supporting a settlement, with procedural economy aspects playing a particular role. A settlement can also be advantageous for the party concerned or the secondary participant in administrative fine proceedings: they are spared lengthy proceedings and the outcome is certain.
