The Austrian Financial Market Authority (FMA) hereby announces that it has imposed a fine of EUR 105,000.00 by means of a penal order against Sanochemia Pharmazeutika AG for delayed ad hoc reporting. The penal order is not final.
Update: 04.11.2019
Sanochemia Pharmazeutika AG has submitted an appeal to the Federal Administrative Court (BVwG; Bundesverwaltungsgericht) against the penal order issued by the FMA. The penal order is therefore not legally final.
Update: 09.03.2021
The Federal Administrative Court confirmed the FMA’s penal order dated 27.09.2019. Since Sanochemia Pharmazeutika AG has subsequently entered insolvency (administration proceedings without self-administration) the amount of the fine was reduced to EUR 10,000 as well as procedural costs. The orderly final right of appeal was declared not to be permissible. The penal order is final.