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[SITUATION] · [QUIET] · [BUSINESS]
2 clusters · 18 sources · 3 days · First seen · Last updated
Volkswagen BaFin disclosure fine
Overview
Germany’s Federal Financial Supervisory Authority (BaFin) imposed a 1.2 million euro fine on Volkswagen AG for violating ad-hoc disclosure requirements. The regulator determined that the company failed to comply with the EU Market Abuse Regulation regarding its 2023 fiscal year profit forecasts.
BaFin concluded that because the company’s positive outlook significantly exceeded market expectations, it constituted material insider information. Rather than using the required immediate “ad hoc” channels to ensure market transparency and equal access for investors, Volkswagen released the details via a standard press release. While Volkswagen reached an agreement with BaFin to end the proceedings, a company spokesperson maintained that its disclosures “sufficiently informed market participants.”
Entities
Timeline
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[BUSINESS] 2 sourcesVolkswagen fined €1.2 million for disclosure failure
Volkswagen AG has been fined €1.2 million by Germany's BaFin for failing to provide immediate ad hoc disclosure of its 2023 profit forecast, violating EU market abuse regulations.
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[BUSINESS] 16 sourcesVolkswagen fined 1.2 million euros by BaFin for disclosure violations
Volkswagen has been fined 1.2 million euros by Germany's BaFin for failing to provide immediate ad-hoc disclosures regarding its 2023 financial forecasts.
Sources
allgaeuer-zeitung.de · autoactu.com · block-builders.de · btc-echo.de · cash.ch · deia.eus · dotyk.cz · emefka.sk · fehmarn24.de · finanzen.ch · finanzen.net · meinegemeinde.vol.at · noticiasdeNavarra.com · onetz.de · pogled.ba · theportugalpost.com · tn.nova.cz · wolfsburger-nachrichten.de