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Wellington Management Group LLP: BaFin imposes administrative fine

On 31 March 2022, BaFin imposed an administrative fine amounting to 165,000 euros on Wellington Management Group LLP.

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 (1) of the German Securities Trading Act (Wertpapierhandelsgesetz – WpHG). Wellington Management Group LLP failed to submit voting rights notifications within the prescribed period.

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

Update (28.04.2022):

The administrative fine order is final and binding.

Source: BAFIN

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