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Announcement: FMA imposes sanctions against a person responsible at the time of the offence of AL Energie Effizienz Handels GmbH and WM Maierhofer AG for breaches against the KMG

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The Austrian Financial Market Authority (FMA) hereby announced that it has imposed a fine of € 18,000.00 by means of a penal order against a person responsible at the time of the offence of AL Energie Effizienz Handels GmbH and WM Maierhofer AG due to inadequate publication of the prospectus and supplements and misleading publicity in relation to the public offering of capital participating rights. The penal order is not legally final.

Update: 27.08.2019

An appeal was lodged against this penal order with the Federal Administrative Court (Bundesverwaltungsgericht).

Update: 10.10.2019

On the basis of proven income and financial circumstances the fine was reduced to € 12,000.00 in a preliminary appeal decision. The preliminary appeal decision is not legally final.

Update: 18.10.2019

The complainant has submitted the request to the FMA that the appeal should be submitted to the Federal Administrative Court (BVwG; Bundesverwaltungsgericht) for it to rule upon (request for submission)

Update: 14.02.2020

The Federal Administrative Court confirmed in full the FMA’s penal order in the version of the preliminary appeal decision of 27.09.2019. The orderly final right of appeal was declared not to be permissible. The penal order is final.

Update: 04.08.2022

On 13.07.2022 the Supreme Administrative Court (VwGH; Verwaltungsgerichtshof) upheld the final right of appeal in the extent that it was contested, and the ruling of the Federal Administrative Court (BVwG) that was being challenged in relation to the inadequate publication of the prospectus and supplements was repealed.

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