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Announcement: The FMA imposes a sanction against a private person for delayed notification about a proprietary trading

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The Austrian Financial Market Authority (FMA) has imposed a fine of EUR 9,000 on a supervisory board member of an issuer. Proceedings were concluded under the accelerated conclusion of proceedings pursuant to Article 22 para. 2b of the Financial Market Authority Act (FMABG; Finanzmarktaufsichtsbehördengesetz). The reason is a breach against the Market Abuse Regulation (MAR, Regulation (EU) 596/2014). The supervisory board member specifically failed to submit the compulsory notifications to the FMA and the issuer about their proprietary trading activity (Directors’ Dealings notification) within three business days following the date on which the transaction was conducted. The penal order is final.