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On 31 October 2022, BaFin imposed an administrative fine amounting to 200,000 euros on Union Service-Gesellschaft mbH.
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 33 (2) of the German Securities Trading Act (Wertpapierhandelsgesetz – WpHG). Union Service-Gesellschaft mbH failed to submit voting rights notifications within the prescribed period.
The company may lodge an appeal against the administrative fine order.
