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.
The administrative fine order is final and binding.