The Austrian Financial Market Authority (FMA) has imposed a fine of EUR 704,375 against a private 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 private investor had made use 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 used it to sell or purchase shares and warrants. In addition to the fine, the unlawfully achieved profit or loss avoided of EUR 104,394.39 was also declared void.
Article 14 lit. a MAR serves the purpose of promoting the integrity of the market and for strengthening confidence in the capital market. The penal order is final.