Erscheinung:05.06.2024, Stand:updated on 17.06.2024 | Topic Measures Epigenomics AG: BaFin imposes administrative fine
On 8 April 2024, the Federal Financial Supervisory Authority (BaFin) imposed an administrative fine amounting to 25,000 euros on Epigenomics AG. The fine was imposed due to the company’s failure to comply with obligations under the German Securities Trading Act (Wertpapierhandelsgesetz – WpHG). The company failed to publish the total number of voting rights held by shareholders in the company within the prescribed period.
The company may lodge an appeal against the administrative fine order.
Background information: voting rights notification requirements
Companies such as Epigenomics AG that are domiciled in Germany and that issue securities that are traded on an organised market in Germany are required to publish the total number of voting rights within two trading days if there is an increase or decrease in the number voting rights.
This is essential to support shareholders since it allows them to calculate their share of voting rights in the company without having to ascertain the necessary total number of voting rights themselves.
Failure to publish the total number of voting rights within the prescribed period constitutes a contravention of the requirements of the German Securities Trading Act (Wertpapierhandelsgesetz). BaFin may impose administrative fines on companies that fail to comply with these requirements. The maximum amount for this fine is 10 million euros or up to 5% of total revenue.
Update (17.06.2024):
The administrative fine order is final and binding.
