FinanceTuesday, October 20, 20261 min read

German regulator fines Nomura over Commerzbank disclosure breaches

By CNA · Published by Everything Blog

In short

German regulator Bafin has fined Nomura Holdings €320,000 for failing to disclose voting rights in Commerzbank, breaching German law. Nomura did not submit voting rights notifications for Commerzbank in May and June, which could lead to a fine of up to €10 million or 5% of total revenue. The firm has appealed the administrative fine order.

Key points

Nomura has been fined €320,000 by German regulator Bafin for failing to disclose voting r…: Nomura has been fined €320,000 by German regulator Bafin for failing to disclose voting rights in Commerzbank.
The fine could lead to a maximum fine of up to €10 million or 5% of total revenue.: The fine could lead to a maximum fine of up to €10 million or 5% of total revenue.

Sources checked by our analysis pipeline: 1

Oct 20 : German financial regulator Bafin said on Tuesday it had fined Japanese investment firm Nomura Holdings €320,000 ($359,000) for failing to disclose voting rights in Commerzbank as UniCredit built its stake in the German lender.

• The regulator said Nomura did not submit voting rights notifications relating to Commerzbank in May and June

• Under German law, shareholders must notify the issuer and the regulator within four trading days if their voting rights reach certain thresholds

• If a shareholder does not comply, Bafin can impose a fine of up to €10 million or 5 per cent of total revenue

• "Whilst we do not comment on the details of our interactions with regulators, the firm takes adherence to regulations seriously," a Nomura spokesperson told Reuters

• The company can appeal the administrative fine order, Bafin said

($1 = 0.8916 euros)

Original source: www.channelnewsasia.com

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German regulator fines Nomura over Commerzbank disclosure breaches

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