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Announcement: FMA imposes sanction against DO&CO Aktiengesellschaft for a breach of ad hoc reporting obligations

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The Austrian Financial Market Authority (FMA) hereby announces that the Federal Administrative Court (BVwG; Bundesverwaltungsgericht) has confirmed the penal order issued by the FMA against DO & CO Aktiengesellschaft on 12.03.2020 in full, with a fine of EUR 318,000 for a delayed ad-hoc reporting notification in 2018 (Article 17 of the Market Abuse Regulation (MAR), Regulation (EU) 596/2014). The orderly final right of appeal was declared not to be permissible. The penal order is final.

Update: 21.12.2021

On 01.06.2021, DO&CO Aktiengesellschaft appealed to the Constitutional Court of Austria (VfGH; Verfassungsgerichtshof) against the administrative decision containing the judgement of the Federal Administrative Court (BVwG; Bundesverwaltungsgericht), while also petitioning for suspensory effect to be granted for the appeal against the administrative decision. The Constitutional Court of Austria rejected the petition for suspensory effect by means of a decision dated 08.07.2021, and subsequently rejected the handling of DO&CO Aktiengesellschaft’s appeal in a decision dated 22.09.2021.

Furthermore, on 01.06.2021, DO&CO Aktiengesellschaft exercised an extraordinary final right of appeal to the Supreme Administrative Court (VwGH; Verwaltungsgerichtshof) while also petitioning for suspensory effect to be granted for the final right of appeal. The Supreme Administrative Court rejected the petition for suspensory effect by means of a decision dated 17.06.2021, and subsequently rejected the handling of DO&CO Aktiengesellschaft’s final right of appeal in a decision dated 29.11.2021 due to there not being any legal issue of fundamental importance.

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