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Announcement: FMA imposes sanction on a private person for a delayed notification of a proprietary trade

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The Austrian Financial Market Authority (FMA) has imposed a fine of Euro 2,000 against the Chief Executive Officer of an issuer. Proceedings were concluded under the accelerated conclusion of proceedings pursuant to Article 22 para. 2b of the Financial Market Authority Act (FMABG; Finanzmarktaufsichtsbehördengesetz). The reason is a breach against the Market Abuse Regulation (MAR, Regulation (EU) 596/2014). The Chief Executive Officer specifically failed to submit the compulsory notification to the FMA and the issuer about proprietary trading activity (Directors’ Dealings notification) within three business days following the date on which the transaction was conducted. The penal order is final.