On 20 December 2021, BaFin imposed administrative fines totalling 46,600 euros on ECHOS Holding AG.
The sanction related to breaches of section 114 (1) sentence 2 and section 115 (1) sentence 1 and sentence 2 of the German Securities Trading Act (Wertpapierhandelsgesetz – WpHG).
ECHOS Holding AG failed to publish announcements, stating the date and the website on which the accounting documents listed in section 114 (2) of the WpHG for the financial years 2015, 2016, 2017 and 2018 were made publicly available in addition to their availability in the Company Register (Unternehmensregister) within the prescribed period.
ECHOS Holding AG failed to make its half-yearly financial reports for the financial years 2016, 2017, 2018 and 2019 publicly available within the prescribed period.
ECHOS Holding AG failed to publish announcements, stating the date and the website on which the half-yearly financial reports for the financial years 2016, 2017, 2018 and 2019 were made publicly available in addition to their availability in the Company Register (Unternehmensregister) within the prescribed period.
The company may lodge an appeal against the administrative fine order.
Update (03.02.2022):
The administrative fine order is final and binding.
Source: BAFIN
