Erscheinung: 26.03.2026 | Topic Measures Schaeffler AG: BaFin imposes administrative fine

On 4 March 2026, BaFin imposed an administrative fine amounting to 180,000 euros on Schaeffler AG on the grounds that the company had violated the Market Abuse Regulation (MAR). The fact that financial results for the first quarter of 2024 deviated significantly from market expectations should, as insider information, have been made transparent by the company without delay.

Background information:

Companies such as Schaeffler AG that are domiciled in Germany and that issue securities and other financial instruments that are traded on an organised market in Germany are subject to ad hoc disclosure obligations. They are therefore required to publish inside information immediately. Inside information is information of a precise nature which has not been made public, relating directly or indirectly to one or more issuers or to one or more financial instruments, and which, if it were made public, would likely have a significant effect on the prices of those financial instruments or on the price of related derivative financial instruments. This includes significant deviations between financial results and market expectations. The ad hoc disclosure obligation is set down in the MAR.

The requirement to publish inside information immediately is important for several reasons: it is intended to prevent insiders from gaining an advantage when trading in securities and other financial instruments due to their privileged access to information. It is also intended to ensure investors are not misled when making their investment decisions.

Failure by a company to publish inside information as soon as possible constitutes a breach of the MAR, specifically the first subparagraph of Article 17(1). BaFin may impose administrative fines in such cases. The maximum amount for this fine is 2.5 million euros or up to 2% of total revenue.

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