{"id":32917,"date":"2020-12-18T11:01:08","date_gmt":"2020-12-18T10:01:08","guid":{"rendered":"https:\/\/www.fma.gv.at\/bekanntmachung-fma-verhaengt-sanktion-gegen-die-erste-asset-management-gmbh-wegen-verstosses-gegen-das-boersegesetz-2018-boerseg-2018\/"},"modified":"2023-10-16T22:06:58","modified_gmt":"2023-10-16T20:06:58","slug":"announcement-fma-imposes-sanction-against-erste-asset-management-gmbh-for-a-breach-against-the-stock-exchange-act-2018-borseg-2018","status":"publish","type":"post","link":"https:\/\/www.fma.gv.at\/en\/announcement-fma-imposes-sanction-against-erste-asset-management-gmbh-for-a-breach-against-the-stock-exchange-act-2018-borseg-2018\/","title":{"rendered":"Announcement: FMA imposes sanction against Erste Asset Management GmbH for a breach against the Stock Exchange Act 2018 (B\u00f6rseG 2018)"},"content":{"rendered":"<?xml encoding=\"utf-8\" ?><p class=\"wp-block-paragraph\">The Austrian Financial Market Authority (FMA) hereby announces that it has imposed a fine of EUR 279,200 against Erste Asset Management GmbH as a legal person for the delayed notification about its underrunning the 4% threshold for holdings in relation to shares of an issuer. The shares in question (shares of Immofinanz AG) were held in funds that were managed by Erste Asset Management GmbH at the time of the offence taken place. The investment fund management company omitted to inform the issuer (Immofinanz AG) in a timely manner about a participation threshold being underrun.<\/p><p class=\"wp-block-paragraph\">The penal order is not final.<\/p><p class=\"wp-block-paragraph\">Erste Asset Management GmbH has submitted an appeal to the Federal Administrative Court (Bundesverwaltungsgericht).<\/p><p class=\"wp-block-paragraph\"><strong>Update: 21.12.2021<\/strong><\/p><p class=\"wp-block-paragraph\">The Federal Administrative Court (BVwG; Bundesverwaltungsgericht) upheld the appeal to the extent that the fine imposed by the FMA was reduced to EUR 239,200.00.<\/p><p class=\"wp-block-paragraph\">The orderly final right of appeal was declared not to be permissible. The penal order is final.<\/p><p class=\"wp-block-paragraph\"><strong>Update: 28.01.2022<\/strong><\/p><p class=\"wp-block-paragraph\">Erste Asset Management GmbH has submitted an appeal to the Constitutional Court of Austria (VfGH; Verfassungsgerichtshof).<\/p><p class=\"wp-block-paragraph\"><strong>Update: 22.03.2022<\/strong><\/p><p class=\"wp-block-paragraph\">The Constitutional Court of Austria (VfGH; Verfassungsgerichtshof) has rejected to handle Erste Asset Management GmbH&rsquo;s appeal.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>FMA imposes sanction against Erste Asset Management GmbH for a breach against the Stock Exchange Act 2018 (B\u00f6rseG 2018)<\/p>\n","protected":false},"author":28,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[85],"tags":[],"class_list":["post-32917","post","type-post","status-publish","format-standard","hentry","category-sanction"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - 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