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Announcement: the FMA imposes a sanction against a private person for the delayed notification of proprietary trades

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The Austrian Financial Market Authority (FMA) has imposed a fine of EUR 3,000 on a supervisory board member 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 member of the supervisory board specifically failed to submit the compulsory notifications about their proprietary trading activities (Directors' dealings notifications) within three days at latest following the date of the trade to the FMA and the issuer respectively. The penal order is final.

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