The Austrian Financial Market Authority (FMA) has imposed a fine of EUR 10,000 against a retail investor. The proceedings were concluded in an accelerated manner pursuant to Article 22 para. 2b of the Financial Market Authority Act (FMABG; Finanzmarktaufsichtsbehördengesetz). Specifically the retail investor had made use of a piece of insider information in relation to an exchange-listed security in contravention of Article 14 lit. a of Regulation (EU) No 596/2014 (MAR; Market Abuse Regulation) and by virtue of knowledge of such information had used it to purchase 1,000 shares for an average purchase price of EUR 11.3199. In addition to the fine, the profit of EUR 3,780.10 that was gained in an illegal manner, was also declared void.
Article 14 lit. a MAR serves the purpose of promoting market integrity and strengthening confidence in the capital market. The penal order is final.