On 31 January 2020, the Federal Office of Justice (Bundesamt für Justiz – BfJ) imposed a further disciplinary fine amounting to 750,000 euros against United Power Technology AG.
The disciplinary fine order related to a breach of section 325 of the German Commercial Code (Handelsgesetzbuch – HGB). United Power Technology AG had failed to submit its consolidated accounting documents for the financial year 2017 for the purpose of disclosure to the operator of the German Federal Gazette (Bundesanzeiger) in electronic form. The legal basis for the sanction is section 335 of the HGB.
The company lodged no complaint against the disciplinary fine order.