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Syzygy AG: BaFin imposes administrative fine

On 10 January 2022, BaFin imposed an administrative fine amounting to 57,000 euros on Syzygy AG.

The sanction related to a breach of section 114 (1) sentence 2 of the German Securities Trading Act (Wertpapierhandelsgesetz – WpHG). Syzygy AG failed to publish an announcement, stating the date and the website on which the accounting documents listed in section 114 (2) of the WpHG for the financial year 2020 were made publicly available in addition to their availability in the Company Register (Unternehmensregister).

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

Update (04.03.2022):

The administrative fine order is final and binding.

Source: BAFIN

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