The Austrian Financial Market Authority (FMA) has imposed a fine of EUR 89,460 on HYPO NOE Landesbank für Niederösterreich und Wien AG. The reason is a a breach against the Securities Supervision Act 2018 (WAG 2018; Wertpapieraufsichtsgesetz 2018) and the Delegated Regulation (EU) 2017/565 supplementing Directive 2014/65/EU (MiFID II). Specifically, HYPO NOE breached its obligation to take appropriate precautionary for checking the personal transactions of relevant persons. Among other things, such precautions should prevent such persons from exploiting confidential knowledge. The penal order is not final.
Update: 02.10.2024
HYPO NOE Landesbank für Niederösterreich und Wien AG has lodged an appeal with the Federal Administrative Court (BVwG; Bundesverwaltungsgericht) against the FMA’s penal order.