The Vanguard Group, Inc.: BaFin imposes administrative fine

On 22 November 2021, BaFin imposed an administrative fine amounting to 290,000 euros on The Vanguard Group, Inc.

The sanction related to a breach of section 130 (1) of the German Act on Breaches of Administrative Regulations (OrdnungswidrigkeitengesetzOWiG) in conjunction with section 33 (1) sentence 1 of the German Securities Trading Act (WertpapierhandelsgesetzWpHG). The Vanguard Group, Inc. failed to submit voting rights notifications within the prescribed period.

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

Update (13.12.2021):

The administrative fine order is final and binding.

Source: BAFIN

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