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Wirecard AG: BaFin threatens to impose coercive fines

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BaFin issued a notice on 22 July 2020 ordering Wirecard AG to comply with the financial reporting requirements under sections 114 et seq. of the Securities Trading Act (WertpapierhandelsgesetzWpHG) and threatening to impose coercive fines in the amount of EUR 330,000.

Wirecard AG contravened the requirements under section 114 (1) sentences 2 and 3 of the WpHG (lack of announcement) with respect to the annual financial information for the financial year 2019.

The notice is immediately enforceable but not yet final and binding.

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