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JPMorgan Chase Bank N.A.: BaFin Imposes Administrative Fine

Date 21/07/2021

On 19 July 2021, BaFin imposed an administrative fine amounting to 1,830,000 euros on JPMorgan Chase Bank N.A.


The sanction related to a breach of section 130 (1) of the German Act on Breaches of Administrative Regulations (Ordnungswidrigkeitengesetz – OWiG) in conjunction with section 21 (1) sentence 1 of the German Securities Trading Act (Wertpapierhandelsgesetz – WpHG) old version. JPMorgan Chase Bank N.A. failed to submit voting rights notifications within the prescribed period.

The company may lodge an appeal against the administrative fine order.