Erscheinung:12.10.2020, Stand:updated on 29.10.2020 | Topic Measures Covestro AG: BaFin imposes administrative fine
On 7 October 2020, BaFin imposed an administrative fine amounting to 600,000 euros on Covestro AG.
The sanction related to a breach of section 130 (1) of the German Act on Breaches of Administrative Regulations (Ordnungswidrigkeitengesetz – OWiG) in conjunction with section 40 (1) sentence 2 of the German Securities Trading Act (Wertpapierhandelsgesetz – WpHG). Covestro AG failed to publish notification that it had reached a relevant threshold in respect of its own shares within the prescribed period.
The company may lodge an appeal against the administrative fine order.
Update (29.10.2020):
The administrative fine order is final and binding.
