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Landesbank Baden-Württemberg: BaFin imposes administrative fine

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On 10 November 2022, BaFin imposed an administrative fine amounting to 498,000 euros on Landesbank Baden-Württemberg.

The sanction related to a breach of section 130 (1) of the German Act on Breaches of Administrative Regulations (OrdnungswidrigkeitengesetzOWiG) in conjunction with Article 16(2) sentence 2 of the Market Abuse Regulation (MAR). Landesbank Baden-Württemberg failed to notify BaFin without delay that it had reasonable suspicion that an order in a financial instrument constituted insider dealing.

The company may lodge an appeal against the administrative fine order.

This news item was originally published by the Federal Financial Supervisory Authority (BaFin DE). For more information, see the Source Link.

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