The Austrian Financial Market Authority (FMA) hereby announces that it has imposed a fine of EUR 226,667 respectively against WIENER STÄDTISCHE VERSICHERUNG AG Vienna Insurance Group, VIENNA INSURANCE GROUP AG WIENER Versicherung Gruppe and Wiener Städtische Wechselseitiger Versicherungsverein – Vermögensverwaltung – Vienna Insurance Group respectively as legal entities due to the belated notification of the 10 % participation threshold being underrun with regard to the shares of an issuer. The aforementioned undertakings omitted to notify the underrunning of the respective participation threshold in a timely manner to the FMA, the exchange operating company as well as the issuer (S IMMO AG). The penal order is not final.<\/p>
Update: 09.06.2021<\/strong><\/p> WIENER STÄDTISCHE VERSICHERUNG AG Vienna Insurance Group, VIENNA INSURANCE GROUP AG WIENER Versicherung Gruppe as well as Wiener Städtische Wechselseitiger Versicherungsverein – Vermögensverwaltung – Vienna Insurance Group have lodged an appeal with the Federal Administrative Court (BVwG; Bundesverwaltungsgericht) against the FMA’s penal order.<\/p> Update: 11.04.2022<\/strong><\/p> The Federal Administrative Court (BVwG; Bundesverwaltungsgericht) upheld the FMA’s penal order dated 22.04.2021. The appeal was deemed to be admissible. The penal orders are legally final.<\/p> Update: 02.06.2022<\/strong><\/p> have lodged a final appeal against the decisions of the Federal Administrative Court (BVwG; Bundesverwaltungsgericht) to the Supreme Administrative Court (VwGH; Verwaltungsgerichtshof), as well as an appeal against the decisions of the Federal Administrative Court to the Constitutional Court of Austria (VfGH; Verfassungsgerichtshof).<\/p> Update: 20.10.2022<\/strong><\/p> In a resolution dated 20.09.2022, the Constitutional Court of Austria (VfGH; Verfassungsgerichtshof) rejected to hear the appeal of<\/p> Update: 26.09.2023<\/strong><\/p> In a ruling dated 29.08.2023, the Constitutional Court of Austria (VfGH; Verfassungsgerichtshof) dismissed the final appeals by Vienna Insurance Group AG Wiener Versicherung Gruppe as well as Wiener Städtische Wechselseitiger Versicherungsverein – Vermögensverwaltung – Vienna Insurance Group as being unfounded.<\/p> In a ruling dated 29.08.2023, the Constitutional Court of Austria upheld the final appeal by Wiener Städtische Versicherung AG Vienna Insurance Group and duly annulled the contested penal order.<\/p> Update: 24.01.2024<\/strong><\/p> Taking into account the ruling of the Supreme Administrative Court (VwGH; Verwaltungsgerichtshof) in the first instance of 29.08.2023, the Federal Administrative Court (BVwG; Bundesverwaltungsgericht) has allowed Wiener Städtische Versicherung AG Vienna Insurance Group’s appeal, has set aside the contested penal order, and has discontinued the administrative penal proceedings.<\/p>\n","protected":false},"excerpt":{"rendered":" FMA imposes sanction against WIENER ST\u00c4DTISCHE VERSICHERUNG AG Vienna Insurance Group, VIENNA INSURANCE GROUP AG WIENER Versicherung Gruppe as well as Wiener St\u00e4dtische Wechselseitiger Versicherungsverein \u2013 Verm\u00f6gensverwaltung \u2013 Vienna Insurance Group for breaches against the Stock Exchange Act 2018 (B\u00f6rseG 2018; B\u00f6rsegesetz 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-34182","post","type-post","status-publish","format-standard","hentry","category-sanction"],"yoast_head":"\n\n
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