The Austrian Financial Market Authority (FMA) announces that it has imposed a fine of EUR 875.00 for a breach against the Market Abuse Regulation (Regulation (EU) 596/2014) against a private investor by way of a penal order. The private investor has committed market manipulation by conducting a fictitious transaction (crossing).
An appeal was lodged against this penal order with the Federal Administrative Court (BVwG; Bundesverwaltungsgericht). The penal order was confirmed in its entirety by the Federal Administrative Court. A final right of appeal was declared inadmissible. The penal order is final.